Guar seed futures rise on fresh bets

Guar seed prices on Monday rose by Rs 54 to Rs 3,692 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 May contracts increased by Rs 54, or 1.48 per cent, to Rs 3,692 per 10 quintal with an open interest of 3,050 lots.

Guar seed for June delivery traded higher by Rs 64, or 1.78 per cent, to Rs 3,652 per 10 quintal with an open interest of 34,365 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