Guar seed futures rise on fresh bets

New Delhi,  Guar seed prices on Wednesday rose by Rs 21 to Rs 4,173 per 10 quintal in futures trade after speculators increased their positions driven by a firm trend at spot market.On the National Commodity and Derivatives Exchange, guar seed for November contracts increased by Rs 21, or 0.51 per cent, to Rs 4,173 per 10 quintal with an open interest of 11,480 lots.

Similarly, Guar seed for December delivery traded higher by Rs 22, or 0.52 per cent, to Rs 4,224 per 10 quintal with an open interest of 56,115 lots.

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