Guar seed futures rise on fresh bets

Guar seed prices on Wednesday rose by Rs 95 to Rs 4,033 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 95, or 2.41 per cent, to Rs 4,033 per 10 quintal with an open interest of 580 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.

However, guar seed for February delivery traded lower by Rs 5, or 0.13 per cent, at Rs 3,891 per 10 quintal with an open interest of 55,170 lots.

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