Guar seed futures advance on fresh bets

Guar seed prices on Tuesday rose by Rs 8 to Rs 3,520 per 10 quintal in futures trade after speculators increased their positions driven by a firm trend in spot market.

On the National Commodity and Derivatives Exchange, guar seed for June contracts increased by Rs 8, or 0.23 per cent, to Rs 3,520 per 10 quintal with an open interest of 25,980 lots.

Guar seed for July delivery traded higher by Rs 16, or 0.46 per cent, to Rs 3,525 per 10 quintal with an open interest of 19,835 lots.

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