Guar seed prices surged on Monday due to strong spot demand and tight supplies, with speculators boosting their positions on the National Commodity and Derivatives Exchange.
New Delhi, Jun 24 (PTI) Guar seed prices on Monday rose Rs 23 to Rs 5,393 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 July delivery rose Rs 23 or 0.43 per cent to Rs 5,393 per 10 quintals with an open interest of 48,200 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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