High demand lead Guar seed prices to rise by 0.53pct

Guar seed prices firmed up by Rs 23.5 to Rs 4,460 per ten quintals in futures trade Tuesday as traders widened exposures on robust cues from the physical market. Marketmen said raising of bets by speculators, on rising prices in the spot market because of brisk demand from guar gum makers against a tight position of stocks, led to the upswing in guar seed future prices.

At the National Commodity and Derivative Exchange, guar seed contracts for April hardened by Rs 23.5, or 0.53 per cent, to Rs 4,460 per ten quintals with an open interest of 11,540 lots. Similarly, guar seed for May delivery rose by Rs 17, or 0.38 per cent, to Rs 4,509 per ten quintals in a business turnover of 1,13,410 lots.