Guar seed futures rise on spot demand

Guar seed prices on Monday rose by Rs 18 to Rs 3,542 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 May contracts increased by Rs 18, or 0.51 per cent, to Rs 3,542 per 10 quintal with an open interest of 11,515 lots.

Guar seed for June delivery traded higher by Rs 12, or 0.34 per cent, to Rs 3,500 per 10 quintal with an open interest of 35,020 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