Guar seed futures rise on firm demand

New Delhi, Feb 5 () Guar seed prices on Wednesday rose by Rs 42 to Rs 3,918 per 10 quintal in futures trade after participants widened their holdings driven by a firm trend in spot market.

On the National Commodity and Derivatives Exchange, guar seed for February contracts rose by Rs 42, or 1.08 per cent, to Rs 3,918 per 10 quintal with an open interest of 37,615 lots.

Similarly, guar seed for March delivery gained Rs 40 to Rs 3,962 per 10 quintal with an open interest lots of 54,880.

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 RUJRUJ