The price of guar seed reached Rs 5,724 a quintal in futures trading on Friday, an increase of 46 rupees as a result of increased investor activity. This was the highest price ever recorded for guar seed. The existence of the possibility of a greater price was the impetus for this increase.

On the National Commodity and Derivatives Exchange, guar seed contracts for May delivery reached Rs 5,724 per quintal as a consequence of a gain of Rs 46, which is equivalent to a rise of 0.80 percent. This gain brings the total price of the contracts to Rs 5,724 per quintal. In addition to that, there was an open interest in 64,920 lots.

Participants in the market indicated that increased investor speculation contributed to enhance guar seed prices in the futures market, despite the fact that spot prices were declining. Despite the fact that spot prices were declining, this circumstance persisted.