Guar seed futures prices climbed on Wednesday, fueled by strong spot market demand and tight supplies. Speculators increased their positions, driving prices higher.
New Delhi, Jan 24 (PTI) Guar seed prices on Wednesday rose Rs 42 to Rs 5,405 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 February delivery rose Rs 42, or 0.78 per cent, to Rs 5,405 per 10 quintals with an open interest of 67,760 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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