Guar seed futures rise on spot demand

Guar seed prices increased Rs 304 to Rs 5,953 per 10 quintals in futures trade after speculators widened their positions following a firm trend in the spot market.

New Delhi: Guar seed prices on Monday increased Rs 304 to Rs 5,953 per 10 quintals in futures trade after speculators widened their positions following a firm trend in the spot market.

On the National Commodity and Derivatives Exchange, guar seed contracts for August delivery rose Rs 304 or 5.38 per cent to Rs 5,953 per 10 quintals with an open interest of 19,170 lots.

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According to marketmen, raising of bets by speculators, tracking a firm trend in the spot market and thin supplies from growing belts mainly led to the rise in guar seed prices.