Positive spot leads lift castor seed futures

Castor seed prices rebounded Rs 16 to Rs 4,508 per quintal in futures trade today after participants created fresh positions at the existing levels amid a firm trend in the physical market.

At the National Commodity and Derivative Exchange, castor seed for delivery in December contracts improved by Rs 16 -- or 0.36 per cent -- to Rs 4,508 per quintal, with an open interest of 53,800 lots.

Similarly, the most-traded delivery in November also went up Rs 14, or 0.32 per cent, to Rs 4,452 per quintal, having an open interest of 62,640 lots.

Marketmen attributed the recovery in castor seed prices to building up of positions following pick-up in demand from consuming industries in the spot market.