Guar seed futures strengthen

Guar seed prices were higher by Rs 11.50 to Rs 3,839 per quintal in futures trade today as investors enhanced bets in line with a firm trend at the spot market on firm demand.

At the National Commodity and Derivatives Exchange, guar seed to be delivered in June increased by Rs 11.50 or 0.30 per cent to Rs 3,839 per quintal, clocking an open interest of 90,470 lots.

In tandem with overall trend, the contract for delivery this month rose by Rs 8 or 0.21 per cent to Rs 3,750 per quintal, depicting an open interest of 1,960 lots.

The rise in guar seed prices at futures market was mostly due to raising of positions by participants, taking positive cues from spot markets on pick-up in demand against restricted supplies from producing belts, according to marketmen.