Castor seed prices rose by Rs 30 per quintal in futures trade today as investors raised bets on emerging physical market trend.
Marketmen said enhancing of the holdings by speculators induced by rising prices in the spot markets due to pick up in demand for soap, paint and lubricant industries amid a drop in ready stocks, drove the uptrend in castor seed futures prices.
At the National Commodity and Derivatives Exchange, castor seed delivery for the immediate contract August gained by Rs 30, or 0.65 per cent, to Rs 4,644 per quintal with an open interest of 51,760 lots.
The delivery of the most-traded second contract September strengthened by same margins of Rs 30, or 0.64 per cent, to Rs 4,690 per quintal with a business turnover of 1,01,920 open lots.
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