Guar seed futures rise on strong demand

Guar seed prices on Thursday rose by Rs 22 to Rs 4,146 per 10 quintal in futures trade after participants widened their holdings driven by a firm trend in spot market.

On the National Commodity and Derivatives Exchange, guar seed for January contracts rose by Rs 22, or 0.53 per cent, to Rs 4,146 per 10 quintal with an open interest of 25,520 lots.

Similarly, guar seed for February delivery gained Rs 26 to Rs 4,200 per 10 quintal with an open interest lots of 75,230.

According to marketmen, raising of bets by speculators tracking a firm trend in spot market on thin supplies from growing belts mainly led to rise in guar seed prices here.