Guar seed futures rise

Guar seed prices on Friday rose by Rs 122 to Rs 3,524 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 March contracts increased by Rs 122, or 3.59 per cent, to Rs 3,524 per 10 quintal with an open interest of 16,500 lots.

Similarly, guar seed for April delivery gained Rs 76, or 2.25 per cent, to Rs 3,452 per 10 quintal with an open interest of 56,385 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