Guar Seed Futures Rise on Spot Demand
Guar seed futures prices surged on Wednesday due to strong spot market demand and increased speculative activity, with February contracts closing at Rs 5,349 per quintal.
New Delhi, Jan 1 (PTI) Guar seed prices on Wednesday rose Rs 68 to Rs 5,349 per quintal in the futures trade after speculators widened their positions amid a firm trend in the spot market.
On the National Commodity and Derivatives Exchange, guar seed contracts for February delivery increased Rs 68 or 1.27 per cent to Rs 5,349 per quintal with an open interest of 45,575 lots.
According to marketmen, speculators raising bets, a firm trend in the spot market and thin supplies from growing belts mainly led to the rise in guar seed prices.
On the National Commodity and Derivatives Exchange, guar seed contracts for February delivery increased Rs 68 or 1.27 per cent to Rs 5,349 per quintal with an open interest of 45,575 lots.
According to marketmen, speculators raising bets, 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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