Guar seed futures rise on fresh bets

New Delhi: Guar seed prices on Thursday rose by Rs 3 to Rs 4,279 per 10 quintal in futures trade after speculators increased their positions driven by a firm trend at 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 4,279 per 10 quintal with an open interest of 36,600 lots.

Similarly, Guar seed for December delivery traded higher by Rs 3, or 0.07 per cent, to Rs 4,315 per 10 quintal with an open interest of 23,735 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 rise in guar seed prices here.