Guar seed futures rise on fresh bets

Guar seed prices on Wednesday rose by Rs 35 to Rs 3,917 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 January contracts increased by Rs 35, or 0.9 per cent, to Rs 3,917 per 10 quintal with an open interest of 9,275 lots.

Guar seed for February delivery rose by Rs 38, or 0.97 per cent, to Rs 3,965 per 10 quintal with an open interest of 54,020 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.