Castor seed futures jump Rs 98 per quintal

Castor seed futures saw a sharp rise of Rs 98 to Rs 4,738 per quintal Wednesday on raising of bets by investors backed by a firm trend at the spot market.

Marketmen said widening of bets by investors following a firm trend at the spot markets, boosted by strong demand from consuming industries like soap, paint and lubricants and low stocks on restricted supplies, lifted castor seed prices in futures trade here.

At the National Commodity and Derivatives Exchange, castor seed for delivery this month climbed Rs 98 or 2.11 per cent to Rs 4,738 per quintal, with an open interest of 160 lots.

In a similar fashion, contracts for October gained Rs 11 or 0.23 per cent to Rs 4,761 per quintal, in an open interest of 1,36,390 lots.