Guar seed futures rise on spot demand

Guar seed prices on Wednesday rose by Rs 29 to Rs 6,324 per 10 quintals in the futures trade after speculators increased their positions driven by a firm trend in the spot market.

On the National Commodity and Derivatives Exchange, guar seed contracts for May delivery increased by Rs 29 or 0.46 percent to Rs 6,324 per 10 quintals with an open interest of 53,895 lots.

According to marketmen, the 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.

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