Guar Seed futures were trading higher on increased buying by traders on rising demand in spot markets. Apart from lower levels buying, weak supplies and strong export demand into the spot markets also pushed up guarseed futures prices. However, the prices could fall again due to good progress of sowing and expectations of a rise in the seeded area.
The contract for October delivery was trading at Rs 4510.00 /100 KG, up by 3.70% or Rs 161.00 from its previous closing of Rs 4349.00 /100 KG. The open interest of the contract stood at 3097.00 lots.
The contract for November delivery was trading at Rs 4439.00 /100 KG, up by 3.38% or Rs 170.00 from its previous closing of Rs 4269.00 /100 KG. The open interest of the contract stood at 2257.00 lots on MCX.