Guarseed prices surged by Rs 130 to Rs 5,705 per quintal in the futures trading today as participants enlarged positions driven by increased demand from guargum makers amid restricted arrivals.
At the National Commodity and Derivatives Exchange counter, guarseed prices for far-month April contracts spurted by Rs 130, or 2.33 per cent to Rs 5,705 per quintal, with an open interest of 79 lots.
On the similar lines, delivery in current month contracts climbed Rs 120, or 2.25 per cent, to Rs 5,445 per quintal, having an open interest of 1,872 lots.
Marketmen said the rise in guarseed prices was mostly supported by rising demand from guargum makers in the spot markets against thin supplies from growing regions.
