Castor seed prices rose sharply by Rs 70 to Rs 5,508 per quintal in futures trade Monday after investors widened their bets amid firm trends.
Marketmen said besides rising demand from consuming industries, shortage of stocks at the spot markets mainly led to the rise in castor seed futures.
At the National Commodity and Derivatives Exchange, castor seed for January was trading higher by a hefty Rs 70, or 1.29 per cent, to Rs 5,508 per quintal.
Castor seed for February next year, too, showed a similar trend as it surged by Rs 74, or 1.34 per cent, to Rs 5,576 per quintal, having an open interest of 3,200 lots.
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