New Delhi, Feb 3 (PTI): Guar seed prices witnessed an upward trend on Monday, gaining ₹19 to ₹5,384 per quintal in the futures market. The price surge was driven by speculators expanding their positions in response to a strong demand in the spot market.
On the National Commodity and Derivatives Exchange (NCDEX), March delivery guar seed contracts climbed ₹19 or 0.35%, reaching ₹5,384 per quintal. The trading activity saw an open interest of 39,195 lots, indicating increased participation.
Market analysts attributed the price rise to speculative buying, robust spot market trends, and limited supplies from key producing regions. With constrained arrivals from major guar-growing belts, traders capitalized on the demand surge, pushing prices higher.
Last updated by a enewsx:
