Guar seed prices increased by Rs 32 to Rs 6,702 per quintal in futures trade on Wednesday, driven by heightened investor speculation.

On the National Commodity and Derivatives Exchange, guar seed contracts for September delivery increased by Rs 32, or 0.48 per cent, reaching Rs 6,702 per quintal, accompanied by an open interest of 49,505 lots.

Market participants indicated that increased investor speculation, even in the face of declining spot prices, bolstered guar seed futures contracts.