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Castorseed prices extended gains by Rs 31 to Rs 4,423 per quintal in futures trading today following renewed buying, encouraged by firm spot market sentiments.
Marketmen said speculative buying by traders, supported by lower production estimates along with strong demand from castor oil in physical markets.
Prices remained in keen demand due to brisk demand from paint industries in anticipation with biggest "Deepawali" festival.
During deepawali festivals paint industries demand remained on peak as most of people generally re paint your houses.
At the National Commodity and Derivatives Exchange counter, castorseed prices for near contract November month delivery rose again by Rs 31, or 0.71%, to Rs 4,423 per quintal in an open interest of 1,01,890 lots.
First contract October month also added another gains of Rs 27, or 0.62%, to Rs 4,365 per quintal with an open interest of 1,70,980 lots.
All the ruling four contracts remained in positive zone on speculative buying.
