Guar seed prices surged in futures trade on Tuesday, fueled by strong spot market demand and limited supplies. Speculators increased their positions, leading to a price rise.
New Delhi, May 21 (PTI) Guar seed prices on Tuesday rose Rs 6 to Rs 5,502 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 6 or 0.11 per cent to Rs 5,502 per 10 quintals with an open interest of 58,975 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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