Guar seed prices rise in futures trade on firming trend in spot market

Guar seed prices rose by Rs 26.5 to Rs 4,465 per 10 quintal in futures trade Wednesday on widening of bets by participants, buoyed by a firming trend in the physical market. Marketmen attributed the rise in guar seed prices to raising of positions by participants, triggered by a firm trend in the spot market on thin supplies from growing belts.

On the National Commodity and Derivatives Exchange, guar seed for May contracts spurted by Rs 26.5, or 0.6, to Rs 4,465 per 10 quintal, with an open interest of 54,890 lots. Likewise, the delivery for June contracts hardened by Rs 21, or 0.47 per cent, to Rs 4,524 per 10 quintal in an open interest of 8,930 lots.

(With inputs from agencies.)