Castorseed futures up on rising demand

Castorseed prices were up by Rs 31 to Rs 3,778 per quintal in future trading today largely on the back of strong sentiments at spot markets on rising demand.
Further, pick up in export demand too supported the upside in prices.
At the National Commodity and Derivatives Exchange, castorseed for May month contracts gained Rs 31, or 0.83 per cent to Rs 3,778 per quintal, clocking an open interest of 42,450 lots.
On similar lines, most-active April month delivery contracts surged by Rs 29, or 0.79 per cent to Rs 3,716 per quintal, persisting an open interest of 1,57,490 lots.

Marketmen speculative positions built-up by speculators on the back of rising demand from soap, lubricant and paint industries at physical markets mainly attribued the rise in future prices.