Guarseed prices shot up by Rs 84 per quintal in futures trading today as participants created speculative positions amid a firming trend at the domestic spot markets on rising demand.
Marketmen attributed strong gains in guargseed prices at futures trade to pick up in demand from guargum makers at the spot markets against tight supplies from growing regions.
At the National Commodity and Derivatives Exchange counter, guarseed delivery for November contracts surged by Rs 84, or 2.08 per cent to Rs 4,115 per quintal, in an open interest of 27,740 lots.
Also, guargseed for delivery in October was trading higher by Rs 67, or 1.65 per cent to Rs 4,117 per quintal, with an open interest of 47,260 lots.
