Guar seed futures prices surged on the National Commodity and Derivatives Exchange due to strong spot market demand and limited supply from growing regions.
New Delhi, May 28 (PTI) Guar seed prices on Tuesday rose Rs 20 to Rs 5,462 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 June delivery rose Rs 20 or 0.37 per cent to Rs 5,462 per 10 quintals with an open interest of 45,360 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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