Guar seed futures rise on fresh bets

New Delhi: Guar seed prices on Wednesday rose by Rs 25 to Rs 4,008 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 October contracts increased by Rs 25, or 0.63 per cent, to Rs 4,008 per 10 quintal with an open interest of 13,965 lots.

Similarly, guar seed for November delivery traded higher by Rs 28, or 0.7 per cent, to Rs 4,016 per 10 quintal with an open interest of 48,440 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.