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Guar seed futures rise on fresh bets
New Delhi: Guar seed prices on Tuesday rose by Rs 71 to Rs 4,150 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 September contracts increased by Rs 71, or 1.74 per cent, to Rs 4,150 per 10 quintal with an open interest of 6,980 lots.
Similarly, Guar seed for October delivery traded higher by Rs 35, or 0.87 per cent, to Rs 4,039 per 10 quintal with an open interest of 40,935 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.