Guar seed futures rise on fresh bets

New Delhi: Guar seed prices on Friday rose by Rs 5 to Rs 4,274 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 5, or 0.12 per cent, to Rs 4,274 per 10 quintal with an open interest of 46,880 lots.

Similarly, guar seed for December delivery traded higher by Rs 19, or 0.44 per cent, to Rs 4,310 per 10 quintal with an open interest of 14,455 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.