Castor seed futures spurt on strong spot demand

Castor seed prices firmed up by Rs 43 to Rs 4,493 per quintal in futures trade today after speculators increased their bets, tracking a firm trend in physical markets.

The higher exposure in line with a firm trend at the spot market because of strong demand from paint and other consuming industries was a major mover.

At the National Commodity and Derivative Exchange, castor seed for delivery this month contracts shot up by Rs 43, or 0.97 per cent, to Rs 4,493 per quintal, with an open interest of 37,980 lots.

Castor seed for September contracts also gained Rs 42, or 0.93 per cent, to Rs 4,572 per quintal, in an open interest of 48,460 lots.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)