Castor seed futures climb on strong demand

Castor seed prices zoomed Rs 103 to Rs 4,499 per quintal in the futures trade today as speculators widened their bets, tracking a firm trend at the physical markets amid positive global cues.
Marketmen said widening of positions by participants, driven by a firm trend at the spot markets on strong demand from consuming industries, led to a steep rise in castor seed prices in futures market here.
Positive overseas cues too fuelled the rally, they added.
At the National Commodity and Derivative Exchange, castor seed for delivery in current month contract was trading higher by another Rs 103 or 2.34 per cent to Rs 4,499 per quintal, with business turnover of 1,240 open lots.

Likewise, the most-active delivery in June also spurted by Rs 36 or 0.86 per cent to Rs 4,542 per quintal, having an open interest of 1,05,800 lots.