Guarseed prices flared up by Rs 118 to Rs 4,019 per quintal in futures trading today on speculative buying following firm spot market sentiment.
Marketmen said heavy buying by traders on pick-up in spot market demand, mainly pushed up guarseed prices in futures trade.
They said reports of damage in guarseed crops in the neighbouring countries due to heavy rains also supported the uptrend.
At the National Commodity and Derivatives Exchange, December guarseed zoomed up by Rs 118, or 3.02%, to Rs 4,019 per quintal, with an open interest of 74,740 lots.
The November contract jumped up by Rs 109, or 2.79%, to Rs 4,017 per quintal, with an open interest of 90,050 lots.
The October contract moved up by Rs 13, or 0.31%, to Rs 4,266 per quintal, with an open interest of 1,50,530 lots.