Guar seed futures rise on spot demand

Guar seed prices on Friday rose by Rs 22 to Rs 6,343 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 22 or 0.35 percent to Rs 6,343 per 10 quintals with an open interest of 46,940 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.