Guarseed futures surge on strong demand

Guarseed prices shot up by Rs 67 to Rs 3,887 per quintal in futures trade today after participants created huge positions, driven by a robust demand at the physical markets against restricted arrivals from growing belts.
Marketmen said fall in arrivals from growing regions against strong demand from guargum makers largely pushed up guarseed futures prices here.
At the National Commodity and Derivative Exchange, guarseed for delivery in far-month April contracts was trading notably higher by Rs 67, or 1.75 per cent, to Rs 3,887 per quintal, having an open interest of 64,450 lots.
Guarseed for delivery in March too rallied by Rs 52, or 1.39 per cent, to Rs 3,804 per quintal, in an open interest of 39,410 lots.