Castor seed futures up on physical demand

Castor seed prices rose by 0.63 per cent to Rs 4,445 per quintal in futures trading today on the back of widening of positions by speculators.
Besides, a firm trend at physical markets on strong demand supported the upside.
At the National Commodity and Derivative Exchange, castor seed for delivery in December month gained Rs 28 or 0.63 per cent to Rs 4,445 per quintal, clocking an open interest of 69,800 lots.
Also, the November month contract was up by Rs 24 or 0.55 per cent to Rs 4,398 per quintal, depicting an open interest of 39,370 lots.
Participants raised their bets on a firm trend at physical markets following strong demand from consuming industries, particularly soap and lubricant units, analysts said.

Moreover, tight supplies too influenced sentiments, they said.