Guar seed futures rise on fresh bets

Guar seed prices on Monday rose by Rs 26 to Rs 3,666 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 26, or 0.71 per cent, to Rs 3,666 per 10 quintal with an open interest of 22,260 lots.

Guar seed for August delivery traded higher by Rs 22, or 0.61 per cent, at Rs 3,630 per 10 quintal with an open interest of 22,530 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