Guar seed prices declined by Rs 8 to Rs 5,524 per quintal in futures trade on Wednesday, weighed down by ample supplies in the physical market.

On the National Commodity and Derivatives Exchange, guar seed contracts for March delivery fell Rs 8, or 0.14 percent, to Rs 5,524 per quintal. The contract recorded an open interest of 51,380 lots.

Market participants attributed the decline in prices to rising arrivals and increased supplies from key producing regions, which put pressure on futures prices.