Guar seed prices on Tuesday rose by Rs 110 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 increased by Rs 110, or 3.05 per cent, to Rs 3,720 per 10 quintal with an open interest of 42,200 lots.
Similarly, guar seed for April delivery gained Rs 106, or 2.93 per cent, to Rs 3,722 per 10 quintal with an open interest of 53,205 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.