Guarseed futures remain in demand

Guarseed prices remained in the green for the third straight day and rose by Rs 43 to Rs 2407 per quintal in the futures trade today following sustained buying by traders in line with firm spot market cues.  

Marketmen said low stocks position and heavy demand in physical markets continuously weighed on futures prices of guarseed. 

Hike in export demand also boosted the trading sentiments, they added.

At the National Commodity and Derivatives Exchange counter, guarseed prices for most active near December month strengthened further by Rs 43, or 1.82 per cent to Rs 2,407 per quintal, in an open interest of 1,71,820 lots.

Current November month contract also hardened by Rs 40, or 1.72 per cent to Rs 2365 per quintal, clocking an open interest of 46,420 lots.