Castor seed futures extend gains on upbeat spot cues

Castor seed prices rose further by Rs 33 to Rs 4,605 per quintal in futures trading today as speculators indulged in widening positions amid a firm trend at the spot markets.
Marketmen attributed gains in castor seed prices in futures trading to a firm trend in spot markets on robust industrial demand amid pause in supplies from growing regions.
At the National Commodity and Derivatives Exchange, castor seed for delivery in September spurted by Rs 33, or 0.72 per cent, to Rs 4,605 per quintal, with an open interest of 21,140 lots.
Castor seed for August delivery also recorded a rise of Rs 31, or 0.69 per cent, to Rs 4,529 per quintal, with a business turnover of 68,200 open lots.