Guargum prices shot up to hit daily upper limit of four% in the futures trading today following frantic buying by traders on the back of a firming physical markets cue.
Market analysts said sharp rise in guarseed prices in domestic markets encouraged traders to build-up fresh positions in futures trade.
Strong export demand also helped boost the trading sentiments to some extent, they added.
At the National Commodity and Derivatives Exchange, guargum for September delivery rose by Rs 418, or 4.01% to Rs 10,854 per quintal, with an open interest of 260 lots.
Likewise, the prices for delivery in July climbed by Rs 322, or 3.13% to Rs 10,600 per quintal, with an open interest of 51,240 lots.
Gaurgum prices for delivery in June also followed suit and surged by Rs 302, or 3% to Rs 10,364 per quintal, showing an open interest of 10,005 lots.