Guar seed futures up on spot demand

Guar seed prices rose by Rs 61 to Rs 4,390 per 10 quintals in futures trade Thursday as traders widened their bets amid positive demand from the spot market. According to marketmen, raising of bets by speculators tracking a firm trend at the domestic market on thin supplies from growing belts mainly led to rise in prices.

At the National Commodity and Derivatives Exchange, guar seed for May contracts rose by Rs 61, or 1.41 per cent, to Rs 4,390 per 10 quintals, with an open interest of 62,090 lots. Likewise, the delivery for June contracts hardened by Rs 65, or 1.53 per cent, to Rs 4456.5 per 10 quintals in an open interest of 65,500 lots.