Guar seed futures rise on fresh bets

New Delhi,  Guar seed prices on Thursday rose by Rs 62 to Rs 4,305 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 November contracts increased by Rs 62, or 1.46 per cent, to Rs 4,305 per 10 quintal with an open interest of 46,185 lots.

Similarly, guar seed for December delivery traded higher by Rs 56, or 1.31 per cent, to Rs 4,333 per 10 quintal with an open interest of 12,860 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 the rise in guar seed prices here. PTI