Guar seed futures rise on spot demand

Guar seed prices on Thursday increased by Rs 28 to Rs 5,791 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 June delivery increased by Rs 28 or 0.48 percent to Rs 5,791 per 10 quintals with an open interest of 18,880 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.