Castor seed prices strengthened by Rs 75 to Rs 4,310 per quintal in futures trading today after speculators created positions at existing levels, owing to a firm trend at physical markets.
Marketmen said the rise in castor seed prices in futures trade was mostly attributed to building up of positions by participants, driven by strong demand from consuming industries at spot markets amid restricted supplies.
Besides, surging export demand too influenced castor seed prices in futures trade.
At the National Commodity and Derivative Exchange, castorseed for delivery in August contracts was trading higher by Rs 75 or 1.65 per cent to Rs 4,310 per quintal, having an open interest of 21,830 lots.
Castor seed for delivery of most-traded July contracts also gained Rs 71 or 1.71 per cent to Rs 4,224 per quintal, in an open interest of 81,310 lots.
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