Guar seed futures rise on fresh bets

New Delhi, Jul 1 (PTI) Guar seed prices on Wednesday rose by Rs 11 to Rs 3,627 per 10 quintal in futures trade after speculators increased their positions driven by a firm trend at spot market.

On the National Commodity and Derivatives Exchange, guar seed for July contracts increased by Rs 11, or 0.3 per cent, to Rs 3,627 per 10 quintal with an open interest of 23,245 lots.

Guar seed for August delivery traded higher by Rs 12, or 0.33 per cent, to Rs 3,608 per 10 quintal with an open interest of 19,355 lots.

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.PTI SRS SHW SHW