Guar seed futures rise on fresh bets

Guar seed prices on Thursday rose by Rs 4 to Rs 3,706 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 3,706 per 10 quintal with an open interest of 18,650 lots.

Guar seed for August delivery traded higher by Rs 5, or 0.14 percent, to Rs 3,675 per 10 quintal with an open interest of 25,420 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