Castorseed futures strengthens on spot demand

Castorseed prices firmed up by Rs 83.50 to Rs 4,625 per quintal in futures trade today, taking positive cues from spot markets.

Market analysts said strong demand in the physical markets against restricted supplies, influenced castorseed futures prices.

At the National Commodity and Derivatives Exchange, castorseed price for delivery in August jumped up by Rs 83.50, or 1.84%, to Rs 4,625 per quintal, with an open interest of 3,350 lots.

Castorseed futures prices for delivery in July shot up by Rs 62.50, or 1.37%, to Rs 4,625 per quintal, with an open interest of 6,680 lots.  

Likewise, prices for delivery in September rose by Rs 70, or 1.54%, to Rs 4,625 per quintal, clocking an open interest of 4,260 lots.