Guar seed futures rise on spot demand

Guar seed prices on Thursday increased by Rs 164 to Rs 5,906 per 10 quintals in 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 December delivery increased by Rs 164 or 2.78 per cent to Rs 5,906 per 10 quintals with an open interest of 15,015 lots.

According to marketmen, 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.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)