Guarseed futures up Rs 34 per quintal

Guarseed prices were up by Rs 34 per quintal in early trade at the futures market today as traders indulged in building up fresh positions, supported by a firming trend at physical markets.
Marketmen said besides building up of fresh positions by participants at prevailing levels, a firm trend at the spot markets on strong demand from guargum makers, supported the upside in guarseed prices at futures trade here.
Moreoever, tight supplies from growing regions also influenced sentiments, they added.
At the National Commodity and Derivative Exchange, guarseed for most-active October month delivery contracts rose by Rs 34, or 0.98 per cent to Rs 3,486 per quintal, with an open interest of 87,870 lots.

Likewise, delivery in November month contracts was trading higher by Rs 33, or 0.95 per cent to Rs 3,523 per quintal, having an open interest of 14,170 lots.