Castor seed prices up by Rs 6 on firm bets

Castor seed prices rose by Rs 6 to Rs 5,194 per quintal in futures trade Friday after investors widened their bets amid firm trends.

Marketmen said apart from rising demand from consuming industries, shortage of stocks in the spot markets mainly led to the rise in castor seed futures.

At the National Commodity and Derivatives Exchange, castor seed for delivery in January was trading higher by Rs 6, or 0.12 per cent, to Rs 5,194 per quintal, clocking an open interest of 1,07,280 lots.

Castor seed for delivery in March rose by Rs 12, or 0.23 per cent, to Rs 5,336 per quintal having an open interest of 3,200 lots.