Guar seed futures up on spot

Guar seed prices spurted by Rs 24.50 to Rs 4,108.50 per quintal in futures trading today after participants widened their holdings, driven by a firm trend at the spot markets.

Market players attributed the upside in guar seed prices in futures trade to a firm trend at the spot markets due to tight supplies from producing areas against pick-up in demand from guar gum makers.

At the National Commodity and Derivatives Exchange, guar seed for delivery in April advanced by Rs 24.50, or 0.60 per cent, to Rs 4,108.50 per quintal, where the open interest stood at 47,020 lots.

Guar seed to be delivered in May also spurted by a similar margin to trade at Rs 4,138 per quintal, in an open interest of 98,440 lots.