Guar seed futures climb on firm demand

Guar seed prices on Tuesday rose by Rs 20 to Rs 3,836 per 10 quintal in futures trade after participants widened their holdings driven by a firm trend in spot market.

On the National Commodity and Derivatives Exchange, guar seed for February contracts rose by Rs 20, or 0.52 per cent, to Rs 3,836 per 10 quintal with an open interest of 16,455 lots.

Similarly, guar seed for March delivery gained Rs 24, or 0.62, to Rs 3,878 per 10 quintal with an open interest lots of 68,475.

According to marketmen, raising of bets by speculators tracking a firm trend in spot market on thin supplies from growing belts mainly led to rise in guar seed prices here.