Guar seed futures rise on spot demand

Guar seed prices on Friday increased by Rs 10 to Rs 5,864 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 January delivery increased by Rs 10 or 0.17 per cent to Rs 5,864 per 10 quintals with an open interest of 48,325 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.