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.

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.