Guar seed futures rise on spot demand

Guar seed prices advanced by Rs 55 to Rs 4,302 per quintal in futures trade today on accumulated holdings by participants in tune with brisk demand in the spot markets.

Marketmen said, heavy demand from guar gum makers, sparked by tight supplies from producing regions in the spot markets, encouraged traders to expand their holdings, which led to the rise in guar seed prices in futures trade.

At the National Commodity and Derivatives Exchange, guar seed for November rose by Rs 55, or 1.30 percent, to Rs 4,302 per quintal with an open interest of 8,990 lots.

Meanwhile, the delivery for October registered a rise of Rs 49.50, or 1.18 percent, to Rs 4,256 per quintal, mirroring an open interest of 1,00,560 lots.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)