Guarseed futures jumps on fresh buying

Guarseed prices strengthened by Rs 59 to Rs 2,418 per quintal in futures trading today on brisk buying by traders, in line with a firming spot market sentiment.

Marketmen said heavy demand from guargum making industries against restricted supply, mainly led to a rise in guarseed prices at futures market. 

At the National Commodity and Derivatives Exchange counter, guarseed prices for current December-month contract surged by Rs 59 or 2.50 per cent to Rs 2,418 per quintal, with an open interest of 31,450 lots.

Most-active January-month delivery also flared by Rs 62 or 2.58 per cent to Rs 2,468 per quintal, with an open interest of 1,64,810 lots.