Castorseed futures moves up further 1.47%

Castorseed futures prices gained by Rs 58 to Rs 4,006 per 100 kg in future trade today following sustained buying by traders, sparked by a firm spot market sentiment.

Market analysts said low inventories following poor supply encouraged traders to extend their positions.

Strong industrial demand also helped the uptrend in the futures market, they added.     

At the National Commodity and Derivatives Exchange platform, castorseed price for delivery in March flared up further by Rs 58, or 1.47 per cent, to Rs 4,006 per quintal, with an open interest of 4,800 lots.

Current January-month delivery shot up by Rs 45.50, or 0.99 per cent, to Rs 4,619 per quintal, with an open interest of 1,900 lots.  

Most active February-month delivery contract too gained again by Rs 42 to Rs 4,310 per quintal, with an open interest of 6,830 lots.