Guar seed futures gain on spot demand

Guar seed prices on Monday rose ₹72 to ₹5,166 per 10 quintals in futures trade after speculators widened their positions following a firm trend in the spot market.

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On the National Commodity and Derivatives Exchange, guar seed contracts for March delivery rose ₹72 or 1.39 per cent to ₹5,166 per 10 quintals with an open interest of 25,825 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.