Guar Seed Futures Surge on Spot Demand
Apr 24, 2024 13:31
Guar seed futures prices rose on Wednesday due to increased demand in the spot market, driven by speculators and thin supplies.
New Delhi, Apr 24 (PTI) Guar seed prices on Wednesday rose Rs 19 to Rs 5,501 per 10 quintals in futures trade after speculators widened their positions following a firm trend in the spot market.
On the National Commodity and Derivatives Exchange, guar seed contracts for May delivery rose Rs 19 or 0.35 per cent to Rs 5,501 per 10 quintals with an open interest of 60,020 lots.
According to marketmen, speculators raised bets, tracking a firm trend in the spot market and thin supplies from growing belts mainly led to the rise in guar seed prices.
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