Guar seed futures rise on spot demand

Guar seed prices on Thursday increased by Rs 10 to Rs 5,697 per 10 quintal 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 March delivery increased by Rs 10 or 0.18 per cent to Rs 5,697 per 10 quintals with an open interest of 41,365 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.