Guar seed futures rise on fresh bets

New Delhi: Guar seed prices on Tuesday rose by Rs 18 to Rs 4,179 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 18, or 0.43 per cent, to Rs 4,179 per 10 quintal with an open interest of 15,030 lots.

Similarly, Guar seed for December delivery traded higher by Rs 16, or 0.38 per cent, to Rs 4,225 per 10 quintal with an open interest of 52,780 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.