Guar seed futures rise on fresh bets

Guar seed prices on Monday rose by Rs 4 to Rs 3,736 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 July contracts increased by Rs 4, or 0.11 per cent, to Rs 3,736 per 10 quintal with an open interest of 15,015 lots.

Guar seed for August delivery traded higher by Re 1, or 0.03 percent, at Rs 3,683 per 10 quintal with an open interest of 24,110 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