Guar seed futures rise on fresh bets

Guar seed prices on Thursday rose by Rs 7 to Rs 3,648 per 10 quintal in futures trade after speculators increased their positions driven by a firm trend at spot market.

On the National Commodity and Derivatives Exchange, guar seed for July contracts increased by Rs 7, or 0.19 per cent, to Rs 3,648 per 10 quintal with an open interest of 26,045 lots.

Guar seed for August delivery traded higher by Rs 3, or 0.08 per cent, to Rs 3,632 per 10 quintal with an open interest of 15,495 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