Castor seed futures recover on short-covering

Castor seed prices rebounded by Rs 33 to Rs 4,668 per quintal in futures trade today as traders covered-up their pending short positions at existing levels amid a firm trend at the physical markets.

Marketmen said the recovery in castor seed prices at future trade was attributed to covering up of short positions coupled with pick-up in spot demand amid tight supplies.

Moreover, fresh export demand also gave a push to the rising prices, they added.

At the National Commodity and Derivative Exchange, castor seed for delivery in April month recovered by Rs 33, or 0.71 per cent, to Rs 4,668 per quintal, with an open interest of 64,550 lots.
 

Castor seed for delivery in far-month May contract also recovered by Rs 32, or 0.68 per cent, to Rs 4,740 per quintal, in an open interest of 62,400 lots.