Castorseed climbs in futures trade on lower output estimates

Castorseed prices rallied by Rs 126 to Rs 4,685 per quintal in futures trading after speculators enlarged positions, supported reports of lower output estimates.
At the National Commodity and Derivatives Exchange, castorseed for delivery in February 2015 contracts shot up by Rs 126, or 2.76 per cent, to Rs 4,685 per quintal, with an open interest of 65,370 lots.
Also, most-active delivery this month contracts improved by Rs 16, or 0.33 per cent, to Rs 4,820 per quintal in an open interest of 3,38,060 lots.
Marketmen said speculative positions built-up by participants on the back of lower production estimates, mainly pushed up the castorseed prices in futuers trade.