Guar seed futures were trading higher for the second consecutive day due to improved demand in the spot market from stockists and millers, and a supply squeeze in the local markets. Farmers have held up supplies on hopes of a further rise in prices as the new harvest would take around 20 days to come into the market.
The contract for October delivery was trading at Rs 7881.00/100 KG, up by 4.00% or Rs 303.00 from its previous closing of Rs 7578.00/100 KG. The open interest of the contract stood at 386.00 lots.
The contract for November delivery was trading at Rs 7787.00/100 KG, up by 3.99% or Rs 299.00 from its previous closing of Rs 7488.00/100 KG. The open interest of the contract stood at 449.00 lots on MCX