Castor seed prices rise Rs 34 on firm bets

Castor seed prices rose sharply by Rs 34 to Rs 5,330 per quintal in futures trade Friday after investors widened their bets amid firm domestic trend.

Marketmen said, besides rising demand from consuming industries, short position of stocks in the spot markets mainly led to the rise in castor seed futures.

At the National Commodity and Derivatives Exchange, castor seed for December was trading higher by Rs 34, or 0.64 per cent, to Rs 5,330 per quintal.

Castor seed price for January also rose Rs 38, or 0.71 per cent, to Rs 5,420 per quintal, with an open interest of 3,200 lots.