Castorseed future surge on aggressive buying

Castorseed prices spurted by Rs 44 to Rs 3,792 per quintal in the future trade today, following brisk buying in the wake of firm physical markets sentiment.

Traders said paucity of stocks on restricted supply and rising demand at physical markets encouraged traders to raise positions.

Strong industrial demand also helped boost the trading sentiments, they added.

At the National Commodity and Derivatives Exchange counter, castorseed price for current December month contract shot up by Rs 44 or 1.17 per cent to Rs 3,792 per quintal, with an open interest of 5,550 lots.

Far February-month contract also remained in keen demand and rose by Rs 28.50 or 0.83 per cent to Rs 3,460 per quintal, having an open interest of 2,240 lots.