Guar seed futures rise on spot demand

Guar seed prices on Wednesday increased by Rs 22 to Rs 5,825 per 10 quintals in futures trade after speculators widened their positions following a firm trend in the spot market.

On the National Commodity and Derivatives Exchange, guar seed contracts for December delivery increased by Rs 22 or 0.38 per cent to Rs 5,825 per 10 quintals with an open interest of 20,440 lots.

According to marketmen, 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.