Guar seed futures rise on fresh bets

Guar seed prices on Wednesday rose by Rs 212 to Rs 5,967 per 10 quintals in the futures trade after speculators increased their positions driven by a firm trend at spot market.

On the National Commodity and Derivatives Exchange, guar seed for October contracts increased by Rs 212, or 3.68 per cent, to Rs 5,967 per 10 quintals with an open interest of 37,205 lots.

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 guar seed prices here.