Castor seed prices rose by another Rs 35 to Rs 4,485 per quintal in futures trade today as speculators widened their bets in sync with a strong trend at the physical markets.
Market players said persistent rise in castor seed prices in futures trade was mostly attributed to expanding of positions by participants, tracking a from trend at the spot markets on robust demand from consuming industries amid restricted arrivals.
At the National Commodity and Derivative Exchange, castor seed, delivery in most-traded September contracts month hardened by Rs 35 or 0.79 per cent to Rs 4,485 per quintal, with an open interest of 45,710 lots.
Castor seed for most-active delivery in August also rose by Rs 32 or 0.73 per cent to Rs 4,407 per quintal, in an open interest of 43,640 lots.
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