Supported by low inventories against increased demand, castorseed prices rose by over 2.5 per cent per quintal in futures trading today.
At the National Commodity and Derivatives Exchange, castorseed for delivery in June went up by Rs 129, or 2.51 per cent, to Rs 5,270 per quintal, with an open interest of 60 lots.
Prices for February month contract surged by Rs 46, or 0.85 per cent, to Rs 5,433 per quintal, with an open interest of 40 lots.
Likewise, castorseed prices for delivery in March gained Rs 5, or 0.09 per cent, to Rs 5,330 per quintal, with a business turnover of 8,600 lots.
Market analysts said tight stocks following restricted supply, against rise in demand in the spot markets, led to the rise in castorseed prices at futures trade here.
Also, higher overseas markets also influenced trading sentiments to some extent, they added.