Guar seed futures rise on fresh bets

New Delhi, June 3 (PTI) Guar seed prices on Wednesday rose by Rs 48 to Rs 3,562 per 10 quintal in futures trade after speculators increased their positions driven by a firm trend in spot market.

On the National Commodity and Derivatives Exchange, guar seed for June contracts increased by Rs 48, or 1.37 per cent, to Rs 3,562 per 10 quintal with an open interest of 24,010 lots.

Guar seed for July delivery traded higher by Rs 50, or 1.42 per cent, to Rs 3,578 per 10 quintal with an open interest of 20,610 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 SHW RUJ RUJ