Castorseed up 1.7% on firm spot cue

Most active second contract December month too followed suit hardening by 1.65%

Castorseed prices flared up by Rs.80 to Rs.4,728 per quintal in future trade today due to strong demand amid thin supply in physical markets.

Marketmen said strong industrial demand coupled with restricted supply in physical markets mainly contributed to the rise in castorseed prices.

Increase in export demand also influenced trading sentiments to some extent, they added.

At the National Commodity and Derivatives Exchange counter, castorseed prices for first contract November month jumped up by Rs.80, or 1.72% to Rs.4,728 per quintal, with an open interest of 1,67,240 lots.

Most active second contract December month too followed suit hardening by Rs.78, or 1.65% to Rs.4,811 per quintal, in an open interest of 2,42,810 lots.
 
All these contracts traded above 1.5% on speculative buying by traders in anticipation of firm spot markets sentiments.