Guar seed futures rise on fresh bets

Guar seed prices on Monday rose by Rs 73 to Rs 3,905 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 August contracts increased by Rs 73, or 1.91 per cent, to Rs 3,905 per 10 quintal with an open interest of 26,465 lots.

Similarly, guar seed for September delivery traded higher by Rs 77, or 2 per cent, to Rs 3,925 per 10 quintal with an open interest of 15,680 lots.Â

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