Castor seed futures rise on spot cues

Castor seed prices went up by Rs 17 to Rs 4,338 per quintal in futures trading today largely on the back of raising of holdings by speculators in tune with emerging physical markets.
Marketmen attributed the upsurge in castor seed futures prices to widening of positions by participants, tracking a firm trend at the spot markets due to strong demand from paint, soap and other consuming industries, apart from restricted supplies from growing belts.
At the National Commodity and Derivatives Exchange, castor seed to be delivered this month gained Rs 17, or 0.39 per cent, to Rs 4,338 per quintal, with an open interest of 7,900 lots.

Castor seed for December delivery also advanced by Rs 6, or 0.14 per cent, to Rs 4,384 per quintal, with a business turnover of 80,710 lots.