Castor seeds on upward trend, add Rs 19 per quintal

Maintaining the rising trend for the second consecutive session, castor seed prices looked up by Rs 19 to Rs 4,698 per quintal in futures trade today as speculators were expanding bets in line with robust physical markets.

Marketmen said, investors were raising their holdings on the back of sturdy demand by the soap, paint and lubricant industries amid falling ready stocks in the spot markets, which held castor seed futures prices positive for the second straight day.

At the National Commodity and Derivative Exchange platform, castor seed delivery for the immediate contract August gained by Rs 19 or 0.41 per cent to Rs 4,698 per quintal, showing an open interest of 17,390 lots.

Likewise, the delivery of the most traded near contract September went up by Rs 15 or 0.32 per cent to Rs 4,745 per quintal, business turnover revealed in 1,41,680 open lots.