Guar seed futures gain on fresh bets

New Delhi: Guar seed prices on Wednesday rose by Rs 3 to Rs 4,265 per 10 quintal in futures trade after speculators increased their positions driven by a firm trend in spot market. On the National Commodity and Derivatives Exchange, guar seed for November contracts increased by Rs 3, or 0.07 per cent, to Rs 4,265 per 10 quintal with an open interest of 25,390 lots.

Similarly, guar seed for December delivery traded higher by Rs 7, or 0.16 per cent, to Rs 4,312 per 10 quintal with an open interest of 34,595 lots.

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