Guar seed futures gain on spot demand

Guar seed prices gained Rs 64.5 to Rs 4,270 per 10 quintal in futures trade on Thursday due to raising of bets by participants following spot demand. Marketmen said the gain in the guar seed futures prices was mainly due to limited supplies from growing belts amid pick-up in demand for guar gam at prevailing levels.

On the National Commodity and Derivatives Exchange, guar seed contracts for September delivery rose by Rs 64.5, or 1.53 percent, to Rs 4,270 per 10 quintals in an open interest of 18,260 lots. Similarly, the seed contracts for October delivery was up by 19, or 0.46 percent, to Rs 4,182 per 10 quintals, in an open interest of 87,620 lots.