Guar seed futures spurt on positive physical cues

Guar seed prices scaled higher by Rs 34.50 to Rs 3,749.50 per quintal in futures trade today as participants accumulated fresh positions, driven by upbeat sentiments at the physical markets.

At the National Commodity and Derivatives Exchange, guar seed for delivery in May was trading higher by Rs 34.50 or 0.93 per cent to Rs 3,749.50 per quintal, revealing an open interest of 9,660 lots.

Guar seed for the most-traded delivery in June also rose by Rs 34.50 or 0.91 per cent to Rs 3,818 per quintal, open interest stood of 90,380 lots.

Market players attributed the rise in guar seed prices at futures market to tight supplies from growing regions on expectations of further rise in prices amid brisk demand for guar gum makers in spot markets.