Guar seed futures strengthen on spot demand

Guar seed prices rose by Rs 15.5 to Rs 3,917 per ten quintal in futures trade on Wednesday after participants widened their holdings driven by a firm trend at the spot market.

On the National Commodity and Derivatives Exchange, guar seed for November contracts spurted by Rs 15.5, or 0.4, to Rs 3,917 per ten quintal with an open interest of 74,960 lots.

Similarly, guar seed for December delivery gained by Rs 11, or 0.28 per cent, to Rs 3,968 per ten quintal in an open interest lots of 7,840

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 prices here.