Castor seed futures rise 0.64% on firm spot cues

Castor seed prices inched higher by Rs 30 to Rs 4,690 per quintal in futures trade today as participants built positions, amid firm physical market trend.

At the National Commodity and Derivatives Exchange, castor seed for delivery in October contracts moved up by Rs 30, or 0.64 per cent, to Rs 4,690 per quintal with having an open interest of 75,920 lots.

Also, the delivery for the September contract hardened by Rs 24, or 0.52 per cent, to Rs 4,620 per quintal, with a business turnover of 85,230 open interest lots.

Marketmen said big positions built up by participants amid positive cues from spot markets on pick up in demand from soap and other consuming industries, led to the rise in castor seed prices in futures market here.