Guar seed futures gain on spot demand

Guar seed prices rose 0.40 per cent to Rs 3,807 per quintal in futures trading today as participants widened their bets in sync with upbeat physical market cues.

Analysts said investors raised holdings thanks to rising demand in the spot markets due to tight supplies from growing regions amid pick up in offtake by guar gum makers.

At the National Commodity and Derivatives Exchange, guar seed delivery for the most traded second contract June advanced by Rs 15 or 0.40 per cent to Rs 3,807 per quintal, with a business turnover of 68,500 open lots.

Meanwhile, the delivery of the immediate contract May rose by Rs 8.50 or 0.23 per cent to Rs 3,740.50 per quintal, with an open interest of 64,680 lots.