Castorseed up on firm spot demand

Castorseed prices firmed up by Rs 113 to Rs 3,715 per quintal in futures trading today following speculative buying by traders in line with firm spot markets sentiments.

Marketmen said increased buying by traders on restricted supply amid low stocks position in spot markets mainly led to a rise in castorseed prices.

Strong export demand of castoroil seed cake also supported the prices, they said.

At the National Commodity and Derivatives Exchange, the October contract jumped up by Rs 113, or 3.14%, to Rs 3,715 per quintal, with an open interest of 11,740 lots.

The November contract shot up by Rs 93, or 2.53%, to Rs 3,764 per quintal, with an open interest of 1,03,060 lots.

All the four ruling contracts remained in green zone on brisk buying support.