Guar seed futures up on spot demand

Guar seed prices on Tuesday rose by Rs 16 to Rs 3,958 per 10 quintal in futures trade after participants widened their holdings driven by a firm trend at the spot market. On the National Commodity and Derivatives Exchange, guar seed for December contracts advanced by Rs 16, or 0.41, to Rs 3,958 per 10 quintal with an open interest of 20,260 lots.

Similarly, guar seed for January delivery gained Rs 14, or 0.35 per cent, to Rs 4,014 per 10 quintal with an open interest of 74,535 lots. According to marketmen, creating of bets by speculators tracking a firm trend at spot market on thin supplies from growing belts mainly led to the rise in prices.