Castor seed futures remain higher by 1.89 pc

Castor seed prices spurted for the second straight session, adding 1.89 per cent to Rs 4,269 per quintal in futures trade today on unabated accumulation of holdings by the investors, spurred by strong physical leads.

Market players said, investors were indulged in enlarging holdings, driven by upbeat physical markets sentiment, boosting the castor seed futures prices.

In the spot markets, brisk demand for soap, paint and lubricant industries amid halt in arrivals from growing belts held the prices in the green zone, they added.

At the National Commodity and Derivatives Exchange, castor seed delivery for July hardened by Rs 79 or 1.89 per cent to Rs 4,269 per quintal, with an open interest of 56,340 lots.

Likewise, the castor seed delivery of the most traded August contract flared up by Rs 80 or 1.89 per cent to Rs 4,320 per quintal, with a business turnover of 95,850 lots.