Guar seed prices gain Rs 19 on upbeat demand

Guar seed prices advanced by Rs 19 to Rs 4,510 per quintal in futures trade Tuesday on widening of bets by participants, buoyed by a firming trend at the physical market.

Marketmen attributed the rise in guar seed prices to raising of positions by participants, triggered by a firm trend in the spot markets on thin supplies from growing belts amid strong demand from guar gum makers.

On the National Commodity and Derivatives Exchange, guar seed for June contracts hardened by Rs 19, or 8.5 per cent, to Rs 4,510 per quintal, showing the business turnover of 90,770 open interest lots.

In line with the general trend, delivery for guar seed in July contracts rose by Rs 14.5, or 0.32 per cent, to Rs 4,568 per quintal, in an open interest of 3,500 lots.