Guar seed futures rise on spot demand

New Delhi, Feb 25 () Guar seed prices on Tuesday rose by Rs 26 to Rs 3,720 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 March contracts rose by Rs 26, or 0.70 per cent, to Rs 3,720 per 10 quintal with an open interest of 62,010 lots.

Similarly, guar seed for April delivery gained Rs 26, or 0.70 per cent, to Rs 3,750 per 10 quintal with an open interest of 21,535 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