Guar seed futures gain on spot demand

New Delhi, Feb 18 () Guar seed prices on Tuesday rose by Rs 12 to Rs 3,818 per 10 quintal in futures trade after speculators increased their positions driven by a firm trend at spot market.

On the National Commodity and Derivatives Exchange, guar seed for February contracts rose by Rs 12, or 0.32 per cent, to Rs 3,818 per 10 quintal with an open interest of 73,290 lots.

Similarly, guar seed for March delivery gained Rs 8, or 0.21 per cent, to Rs 3,850 per 10 quintal with an open interest of 8,860 lots.

According to marketmen, raising of bets by speculators tracking a firm trend in spot market on thin supplies from growing belts mainly led to rise in guar seed prices here. VHP SHWSHW