Guarseed prices surged by Rs 22, or 0.86 per cent, to Rs 2,582 per quintal in futures trading today on speculative buying, guided by firm spot markets cue.
Marketmen said restricted supply from growing regions, against pick up in demand from gum making companies in physical markets, mainly influenced the trading sentiment at futures market.
At the National Commodity and Derivatives Exchange (NCDEX) counter guarseed prices for August-month contract spurted by Rs 22, or 0.86 per cent, to Rs 2,582 per quintal, with an open interest of 1,95,740 lots.
September-month contract also gained by Rs 21, or 0.81 per cent to Rs 2,609 per quintal, with an open interest of 46,590 lots.