Castor seed futures climb on strong spot demand

Castor seed prices rose by Rs 29 to Rs 4,560 per quintal in futures trade today on widening of positions by speculators in line with a firm trend at the physical markets amid positive global cues.
Marketmen said, expanding positions by participants, tracking a strong sentiment at domestic spot markets on brisk demand from consuming industries and positive cues from overseas market, continued to keep castor seed prices in the green zone in future trading.
At the National Commodity and Derivatives Exchange counter, castor seed for most-traded delivery in June rose Rs 29, or 0.64 per cent, to Rs 4,560 per quintal, with an open interest of 1,04,520 lots.

Castor seed for delivery in July too extended gains by adding Rs 28, or 0.61 per cent, to Rs 4,627 per quintal, having an open interest of 9,760 lots.