On Wednesday, guar seed prices declined by Rs 15, settling at Rs 6,337 per quintal in futures trading, influenced by abundant supplies.

On the National Commodity and Derivatives Exchange, guar seed contracts for September delivery decreased by Rs 15, or 0.24 per cent, settling at Rs 6,337 per quintal, accompanied by an open interest of 52,320 lots.

The decline in guar seed prices has been attributed by market participants to the rising supplies from the cultivation areas.