
The price of guar seeds had a rise of Rs 37, hitting Rs 4,969 per quintal in the futures market. This increase was caused by speculators boosting their holdings in reaction to a solid trend that was observed in the spot market.
Guar seed contracts for November delivery on the NCDEX increased by Rs 37, which is equivalent to 0.74%, reaching Rs 4,969 per quintal. There were 50,200 lots of open interest in the market.
An increase in speculative activity, a solid trend observed in the spot market, and tight supply from major production zones have mostly contributed to the escalation in guar seed prices, according to market analysts. This price increase has been primarily caused by a combination of these factors.