Guar seed prices rose by Rs 6.5 to Rs 3,920 per 10 quintal in futures trade on Tuesday after participants widened their holdings, driven by a firm trend in the spot market.
On the National Commodity and Derivatives Exchange, guar seed for November contracts advanced by Rs 6.5, or 0.17, to Rs 3,920 per 1o quintal with an open interest of 75,220 lots.
Similarly, guar seed for December delivery gained by Rs 5.5, or 0.14 per cent, to Rs 3,967 per 10 quintal in an open interest of 7,020 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 the rise in prices.