New Delhi, May 12 – Guar seed prices witnessed an upward movement on Monday, climbing by Rs 42 to reach Rs 5,031 per quintal in futures trading, driven by strong spot market demand and lower supplies from producing regions.
On the National Commodity and Derivatives Exchange (NCDEX), the guar seed contracts for June delivery registered a gain of 0.83 percent, closing at Rs 5,031 per quintal. The session recorded an open interest of 50,080 lots, indicating heightened activity by market participants.
Market analysts attributed the price surge to increased speculative buying, bolstered by a bullish trend in the physical market. Additionally, tight supplies from key guar-growing belts added upward pressure on prices, reinforcing the firm market sentiment.
The combination of strong demand and constrained supply continues to support guar seed prices in the futures segment, with traders closely monitoring market fundamentals for further cues.
