Guar seed futures rise on fresh bets

Guar seed prices on Wednesday rose by Rs 11 to Rs 3,922 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 December contracts increased by Rs 11, or 0.28 per cent, to Rs 3,922 per 10 quintal with an open interest of 40,230 lots.

Similarly, Guar seed for January delivery traded higher by Rs 13, or 0.33 per cent, to Rs 3,974 per 10 quintal with an open interest of 23,990 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.