Guar seed futures rise on fresh bets

Guar seed prices on Thursday rose by Rs 54 to Rs 3,895 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 December contracts increased by Rs 54, or 1.41 per cent, to Rs 3,895 per 10 quintal with an open interest of 22,720 lots.

Similarly, guar seed for January delivery traded higher by similar margins to Rs 3,946 per 10 quintal with an open interest of 47,165 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.