Guar Seed Futures Rise on Spot Demand
Guar seed futures prices surged on the NCDEX due to increased speculator activity and firm spot market trends. The rise was attributed to thin supplies and strong demand.
New Delhi, Jan 7 (PTI) Guar seed prices on Tuesday rose Rs 34 to Rs 5,370 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 34 or 0.63 per cent to Rs 5,370 per quintal with an open interest of 61,445 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 34 or 0.63 per cent to Rs 5,370 per quintal with an open interest of 61,445 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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