Guar seed futures rise on firm demand

Guar seed prices rose by Rs 11 to Rs 4,200 per 10 quintals in futures trade on Monday after participants widened their holdings, driven by a firm trend in the spot market. On the National Commodity and Derivatives Exchange, guar seed for September contracts spurted by Rs 11, or 0.26, to Rs 4,200 per 10 quintals with an open interest of 12,850 lots.

Similarly, guar seed for October delivery gained by Rs 37, or 0.90 percent, to Rs 4,168 per 10 quintals in an open interest lot of 83,770. According to marketmen, raising of bets by speculators tracking a firm trend in the spot market on thin supplies from growing belts mainly led to the rise in prices here.