Guar seed futures rise on spot demand

Guar seed prices rose by Rs 20.5 to Rs 3,844 per ten quintal in futures trade on Friday after participants widened their holdings, driven by a firm trend in the spot market. On the National Commodity and Derivatives Exchange, guar seed for October contracts advanced by Rs 20.5, or 0.54, to Rs 3,844 per ten quintal with an open interest of 31,670 lots.

Similarly, guar seed for November delivery gained by Rs 17.5, or 0.45 per cent, to Rs 3,884.5 per ten quintal in an open interest lots of 50,750. According to marketmen, raising of bets by speculators tracking a firm trend in spot market on thin supplies from growing belts mainly led to the rise in prices.