Guar seed futures rise on spot demand

Guar seed prices rose by Rs 98.5 to Rs 4,282 per 10 quintals in futures trade Monday on the widening of bets by participants, buoyed by a firming trend at the spot 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 July contracts spurted by Rs 98.5, or 2.35, to Rs 4,282 per 10 quintals with an open interest of 68,100 lots. Likewise, the delivery for August contracts hardened by Rs 105, or 2.48 per cent, to Rs 4,338 per 10 quintals in an open interest of 60,410 lots.