Castor seed prices went up by a whopping Rs 53 to Rs 4,697 per quintal in futures trade today on expansion of bets by participants amid surging trend at the physical markets.
Marketmen said the rise in castor seed prices in futures trade was mostly attributed to widening of holdings by participants, taking positive leads from physical markets, where prices strengthened on paucity of stocks against frantic demand from soap, paint and lubricant industries.
At the National Commodity and Derivatives Exchange, castor seed for delivery in September sharpened by Rs 53, or 1.14 per cent, to Rs 4,697 per quintal, revealing a business turnover of 1,42,800 open lots.
Also, the contract for delivery this month hardened by Rs 49, or 1.08 per cent, to Rs 4,603 per quintal, in an open interest of 1,420 lots.
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