Guarseed prices hit daily upper limit of 4% to Rs 21,568 per quintal in the futures market today, due to speculative buying by traders.
Marketmen said rising demand in spot markets amid reports of lower output estimates this season mainly pushed up the commodity prices sharply.
Strong export demand was another reason behind price rise, they added.
At the National Commodity and Derivatives Exchange, guarseed for delivery in March gained Rs 830, or 4%, to Rs 21,568 per quintal, with an open interest of 17,750 lots.
The April contract, too, froze on a daily limit of 4%, gaining Rs 841 to Rs 21,856 per quintal, with an open interest of 3,480 lots.
