Guar seed futures rise by Rs 68.5 per 10 quintal

Guar seed prices rose by Rs 68.5 to Rs 4,515 per 10 quintal in futures trade Monday as traders widened their bets.

Raising of bets by speculators, tracking a firm trend at the spot markets on thin supplies from growing belts amid sturdy demand, led to the rise in prices, marketmen said.

At the National Commodity and Derivatives Exchange, guar seed contracts for June spurted by Rs 68.5, or 1.14 per cent, to Rs 4,515 per 10 quintal with an open interest of 1,13,050 lots.

Similarly, the July contracts hardened by Rs 75.5, or 1.68 per cent, to Rs 4,580 per 10 quintal in an open interest of 6,300 lots.