Guar seed futures prices rose on Wednesday due to strong spot demand and thin supplies, according to marketmen. Speculators increased their positions, leading to a rise in prices.
New Delhi, May 29 (PTI) Guar seed prices on Wednesday rose Rs 28 to Rs 5,476 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 28 or 0.51 per cent to Rs 5,476 per 10 quintals with an open interest of 43,650 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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