Guar seed futures rise on firm demand

Guar seed prices on Monday rose Rs 101 to Rs 4,205 per 10 quintal in futures trade as participants built their positions driven by a firm trend in spot market.

On the National Commodity and Derivatives Exchange, guar seed contracts for November traded higher by Rs 101, or 2.46 per cent, to Rs 4,205 per 10 quintal with an open interest of 36,030 lots.

For December contracts, guar seed futures gained Rs 98.5, or 2.38 per cent, to Rs 4,235 per 10 quintal with an open interest of 70,650 lots.

According to marketmen, raising of bets by speculators tracking a firm trend in spot market amid thin supplies from growing belts mainly led to rise in prices here