Castorseed futures flare up on strong physical demand

Castorseed futures prices spurted by Rs 68 to Rs 3,915 per quintal today following aggressive buying on the back of firm spot market cues. 

Market analysts said heavy buying and fall in supply in physical markets, mainly influenced trading sentiments. 

At the National Commodity and Derivatives Exchange counter, castorseed price for the far April shot up by Rs 68, or 1.77 per cent, to Rs 3,915 per quintal, with an open interest of 670 lots.

Prices for delivery in February jumped up by Rs 62, or 1.49 per cent, to Rs 4,225 per quintal, clocking an open interest of 5,430 lots.    

Similarly, prices for delivery in January also gained by Rs 47, or 1.07 per cent, to Rs 4,455 per quintal, clocking an open interest of 4,260 lots.