Guar Seed Prices Surge Amid Investor Bets
Guar seed prices surged by Rs 218 to Rs 6,074 per quintal in Tuesday's futures trade due to increased investor interest, despite a decrease in spot prices. The January delivery contracts on the National Commodity and Derivatives Exchange saw a rise of 3.72%, with open interest recorded at 37,305 lots.
- Country:
- India
In a significant development on Tuesday, the futures trade for guar seed witnessed a price surge of Rs 218, reaching Rs 6,074 per quintal. This rise is attributed to heightened investor interest.
The National Commodity and Derivatives Exchange recorded a 3.72% increase for guar seed contracts set for January delivery, with an open interest of 37,305 lots.
Analysts noted that despite a decline in spot prices, the promising investor bets sustained the upward momentum of guar seed prices within the futures market.
(With inputs from agencies.)
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