Guar Seed Futures Rise on Spot Demand
Guar seed futures gained on Thursday due to strong spot demand, driven by speculators' increased positions and tight supply.
New Delhi, Jan 9 (PTI) Guar seed prices on Thursday rose Rs 9 to Rs 5,391 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 9 or 0.17 per cent to Rs 5,391 per quintal with an open interest of 66,255 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 9 or 0.17 per cent to Rs 5,391 per quintal with an open interest of 66,255 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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