Guar seed futures gain on strong demand

Guar seed prices on Monday increased by Rs 22 to Rs 5,000 per 10 quintals in the futures trade after speculators widened their positions following a firm trend in the spot market.

On the National Commodity and Derivatives Exchange, guar seed contracts for July delivery increased by Rs 22 or 0.44 per cent to Rs 5,000 per 10 quintals with an open interest of 3,020 lots.

According to marketmen, the raising of bets by speculators tracking a firm trend in the spot market and thin supplies from growing belts mainly led to the rise in guar seed prices.