Prices of guar seed decreased by Rs 16 to Rs 6,264 per quintal in futures trade on Monday, driven by ample supplies.

On the National Commodity and Derivatives Exchange, guar seed contracts for September delivery decreased by Rs 16, or 0.25 per cent, to Rs 6,264 per quintal, accompanied by an open interest of 47,975 lots.

Market participants attributed the decline in guar seed prices to rising supplies from cultivation areas.