Guarseed futures prices rose to record high today by adding Rs 64 to Rs 5,429 per quintal, on brisk buying by traders following a rising demand against low inventories in physical markets.
Traders said fall in output created low stocks position and pushed up the guarseed futures prices to record high levels.
Strong demand from guargum and exporting units, too, enthused the trading sentiment to some extend.
At the National Commodity and Derivatives Exchange, guarseed prices for January contract rose by Rs 64, or 1.19%, to touch new peaks level of Rs 5,429 per quintal, having an open interest of 1,20,820 lots.
Prices for December contract also jumped up by Rs 56, or 1.07%, to Rs 5,277 per quintal, depicting an open interest of 92,970 lots.