Castorseed futures gain over 2 pc

Castorseed rose by over 2 per cent in futures trade today as speculators enlarged position triggered by a firming trend in the physical markets.
At the National Commodity and Derivatives Exchange, castorseed for delivery in July month contracts climbed Rs 85, or 2.14 per cent to Rs 4,058 per quintal, with an open interest of 74,940 lots.
Also, castorseed for delivery in May month contracts up by Rs 69, or 1.84 per cent to Rs 3,820 per quintal, in an open interest of 7,810 lots, while the most-active June contracts up by Rs 70, or 1.81 per cent to Rs 3,935 per quintal, having an open interest in 1,75,300 lots.

Marketmen attributed rise in castorseed prices at futures trade to strong demand from consuming industries in physical markets but higher output estimates limited the gains.
Besides, rising export demand also influenced castorseed prices, they added.
Meanwhile, production in 2014-15 estimated higher at over 15 lakh tonne as compared to 11.30 lakh tonne in previous year.