Guar Seed Futures Surge on Spot Demand
Guar seed futures prices climbed on the National Commodity and Derivatives Exchange (NCDEX) due to strong spot market demand and tight supply.
New Delhi, Jul 31 (PTI) Guar seed prices on Wednesday rose Rs 196 to Rs 5,484 per quintal 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 August delivery rose Rs 196 or 3.57 per cent to Rs 5,484 per quintal with an open interest of 34,150 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.
On the National Commodity and Derivatives Exchange, guar seed contracts for August delivery rose Rs 196 or 3.57 per cent to Rs 5,484 per quintal with an open interest of 34,150 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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