Guar seed futures rise on spot demand

Guar seed prices rose by Rs 6 to Rs 3,834 per 10 quintal in futures trade Friday as participants built their positions driven by a firm trend in the spot market.

On the National Commodity and Derivatives Exchange, guar seed contracts for October increased by Rs 6, or 0.16 per cent, to Rs 3,834 per 10 quintal with an open interest of 5,630 lots.

For November contracts, guar seed futures gained marginally by 50 paise, or 0.01 per cent to Rs 3,888 per 10 quintal with an open interest of 75,870 lots.

According to marketmen, raising of bets by speculators tracking a firm trend in the spot market amid thin supplies from growing belts mainly led to rise in prices here.