Castorseed futures climb on low level buying

Castorseed futures prices zoomed by Rs 127 to Rs 4,855 per quintal today, following lower levels buying driven by firm spot markets sentiment. 

Market analysts said apart from low-level buying, rise in demand from consuming industries against restricted supply in domestic markets, encouraged traders to extend positions.    

Higher overseas advices also boosted the trading sentiments, they added.

At the National Commodity and Derivatives Exchange, castorseed prices for June contract jumped up by Rs 127, or 2.69 per cent, to Rs 4,855 per quintal, with an open interest of 290 lots.  

Current month April's contract also shot up by Rs 101, or 2.20 per cent, to Rs 4,927 per quintal, with an open interest of 9,910 lots.