Guar seed futures jump Rs 86.50/quintal

Tracking a strong trend at the physical markets, guar seed prices shot up by Rs 86.50 to Rs 4,386.50 per quintal today as traders raised their bets.

At the National Commodity and Derivatives Exchange, guar seed, contract for delivery in November hardened by Rs 86.50 or 2.01 per cent to Rs 4,386.50 per quintal, with an open interest of 10,030 lots.

Similarly, the delivery for the most-traded in October rallied by Rs 78 or 1.83 per cent to Rs 4,344 per quintal, having an open interest of 1,11,440 lots.

Marketmen attributed a significant rise in guar seed prices at futures trade to widening of positions by participants, taking positive cues from the spot markets where prices surged on halt in supplies from growing belts amid strong demand from guar gum making units.