Castor seed prices strengthened by Rs 8 to Rs 5,202 per quintal in futures trade Thursday on accumulation of holdings by participants and strong demand in the spot market.
Marketmen attributed the upsurge in the castor seed futures price to robust demand from paint, soap and lubricant industries amid tight stocks on faltered supplies from growing belts in the spot markets.
At the National Commodity and Derivatives Exchange counter, castor seed delivery for March hardened by Rs 8, or 0.15 per cent, to Rs 5,202 per quintal with an open interest of 69,820 lots.
The delivery for April also rose by Rs 20, or 0.38 per cent, to Rs 5,284 per quintal with a business turnover of 6,790 open interest lots.
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