Guar seed futures prices rose in India on Thursday due to strong spot demand and tight supplies. Speculators increased their positions, driving prices up.
New Delhi, Jul 25 (PTI) Guar seed prices on Thursday rose Rs 11 to Rs 5,412 per 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 August delivery rose Rs 11 or 0.20 per cent to Rs 5,412 per quintals with an open interest of 47,720 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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