Guarseed futures rise on spot demand

Guarseed prices were up by Rs 66 to Rs 3,997 per quintal in futures trade today after participants raised their bets, tracking a firm trend at the spot markets on strong demand.
Besides, thin arrivals from growing regions and robust demand from guargum makers too supported the upside in guarseed prices.
Marketmen said enlarging of positions by traders, supported by a firm trend at the physical markets on strong demand, influenced guarseed prices at futures trade here.
At the National Commodity and Derivative Exchange, guarseed for delivery in November contracts was trading higher by Rs 66 or 1.68 per cent to Rs 3,997 per quintal with an open interest of 10,000 lots.

Also, most-active October month contracts too flared up by Rs 64 or 1.65 per cent to Rs 3,945 per quintal in an open interest of 1,08,180 lots.