Guar seed futures rise on fresh bets

Guar seed prices on Friday rose by Rs 15 to Rs 3,721 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 15, or 0.4 per cent, to Rs 3,721 per 10 quintal with an open interest of 17,450 lots.

Guar seed for August delivery traded higher by Rs 10, or 0.27 percent, to Rs 3,675 per 10 quintal with an open interest of 25,000 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