Castorseed futures rise on renewed buying

Castorseed prices extended gains by adding Rs 46.50 to Rs 3,724 per quintal in the future trading today, following sustained buying on the back of firm spot markets sentiment.

Market analysts said low inventories and brisk buying in physical markets mainly kept the castorseed prices higher for the second consecutive day.

Strong industrial demand also helped to boost the trading sentiments, they added.

At the National Commodity and Derivatives Exchange, castorseed for March month contract hardened by Rs 46.50 or 1.27 per cent to Rs 3,724 per quintal, with an open interest of 3,050 lots.

Current January month contract rose by Rs 19 or 0.45 per cent to Rs 4,200 per quintal in an open interest of 6,860 lots.