Castor seed futures extend gains on lower output reports

Continuing its winning streak for the third straight day, castor seed prices rose by Rs 19 to Rs 4,850 per quintal in futures trading as speculators indulged in widening bets amid reports of lower output estimates.
Marketmen said, expanding of positions by participants triggered by lower production estimates and a firm trend at the spot markets on thin supplies against robust demand, mainly influenced castor seed prices at futures trade here.
At the National Commodity and Derivatives Exchange, castor seed for delivery in May rose further by Rs 19, or 0.39 per cent, to Rs 4,850 per quintal, with an open interest of 96,390 lots.

Castor seed for June delivery also advanced by Rs 12, or 0.24 per cent, to Rs 4,915 per quintal, in an open interest of 24,950 lots.