Guarseed prices spurted by Rs 66 to Rs 3,798 per quintal in futures trade today on heavy buying by traders in line with firm spot markets sentiment.
Market analysts said rising demand and restricted supply at domestic markets mainly influenced the trading sentiments here in futures price of guarseed.
Strong demand from guargum making industries also helped in pushing up the prices.
At the National Commodity and Derivatives Exchange, guarseed price for July delivery rose by Rs 65, or 1.77%, to Rs 3,798 per quintal, with an open interest of 1,73,020 lots.
Likewise, prices for August delivery strengthened by Rs 65, or 1.72%, to Rs 3,850 per quintal, with an open interest of 91,160 lots.