Guar seed futures jump on robust demand

Guar seed prices on Tuesday rose by Rs 42 to Rs 4,120 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 January contracts rose by Rs 42, or 1.03 per cent, to Rs 4,120 per 10 quintal with an open interest of 36,550 lots.

Similarly, guar seed for February delivery gained Rs 40 to Rs 4,166 per 10 quintal with an open interest lots of 64,465.

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.