Castor seed futures gain on strong demand

Castorseed prices improved by Rs 41 to Rs 4,264 per quintal in future trading today following widening of positions by the speculators in line with robust spot and export demand.
Marketmen said a notable rise in demand from paint and lubricant industries in spot markets encouraged traders to built up positions, which resulted in a rise in castorseed prices here in future trading.
Besides, gearing up in export demand at existing levels too gave a push to the future prices, they quoted.
At the National Commodity and Derivatives Exchange counter, castorseed delivery for immediate contract June moved up by Rs 41 or 0.97 per cent to Rs 4,264 per quintal, in an open interest of 28,540 lots.

Most active second contract July delivery also edged higher by Rs 35 or 0.81 per cent to Rs 4,344 per quintal, with an open interest of 95,050 lots.