Guar Seed Prices Surge Amid Firm Spot Market Trend

Guar seed prices increased by Rs 29 to reach Rs 5,484 per 10 quintals in futures trade due to speculators' activity following a strong trend in the spot market. July delivery contracts on the National Commodity and Derivatives Exchange saw a 0.53% rise, influenced by limited supplies and increased betting.

In the latest development, guar seed prices saw an upward trajectory, climbing Rs 29 to Rs 5,484 per 10 quintals in futures trading. This increase is attributed to speculators expanding their positions, driven by a robust trend in the spot market.

The July delivery contracts on the National Commodity and Derivatives Exchange recorded a 0.53% rise, reaching Rs 5,484 per 10 quintals, with an open interest of 52,800 lots.

Market analysts pointed out that the price surge was primarily due to thin supplies from the growing regions and speculators' heightened bets, further solidifying the bullish trend in the guar seed market.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)