Guar seed futures prices surged on the National Commodity and Derivatives Exchange (NCDEX) due to strong spot demand and limited supply. Speculators increased their positions, driving the price up to Rs 5,335 per 10 quintals.
New Delhi, Jan 9 (PTI) Guar seed prices on Tuesday rose Rs 34 to Rs 5,335 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 January delivery rose Rs 34 or 0.64 per cent to Rs 5,335 per 10 quintals with an open interest of 24,895 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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