Castorseed futures soar on exports, spot demand

Castor seed prices went up by Rs 145 to Rs 4,641 per quintal in futures trade today following huge speculative positions built up by participants, driven by a firm trend at the spot markets.

At the National Commodity and Derivative Exchange counter, castor seed for delivery this month contracts shot up by Rs 145 or 3.23 per cent to Rs 4,641 per quintal, with an open interest of 27,010 lots.

Also, most-traded delivery in September contracts for castorseed climbed Rs 142 or 3.10 per cent to Rs 4,717 per quintal, in an open interest of 58,840 lots.

Marketmen said positive cues from spot markets following increased buying by paint units and strong export demand, influenced castorseed prices in futures trade here.

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