Castor seeds rise on spot demand

Castor seed prices were up further by Rs 12 to Rs 4,484 per quintal in futures trade today as participants widened their positions, buoyed by strong physical market sentiments.

At the National Commodity and Derivative Exchange, castor seed for delivery in current month contracts marked higher by another Rs 12 or 0.27 per cent to Rs 4,484 per quintal, in an open interest of 36,310 lots.

Castor seed for most-active September contracts too rose by Rs 7 or 0.15 per cent to Rs 4,558 per quintal, with the business turnover of 51,000 open lots.

Marketmen said persistent rise in castor seed prices was mostly supported by a firm trend at the spot markets on restricted arrivals from producing areas amid heavy buying by soap and lubricant industries, attracting participants to enlarge their portfolios.

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