Castor seed futures remain higher on upbeat trends

Castor seed prices rose by another Rs 35 to Rs 4,485 per quintal in futures trade today as speculators widened their bets in sync with a strong trend at the physical markets.
Market players said persistent rise in castor seed prices in futures trade was mostly attributed to expanding of positions by participants, tracking a from trend at the spot markets on robust demand from consuming industries amid restricted arrivals.
At the National Commodity and Derivative Exchange, castor seed, delivery in most-traded September contracts month hardened by Rs 35 or 0.79 per cent to Rs 4,485 per quintal, with an open interest of 45,710 lots.

Castor seed for most-active delivery in August also rose by Rs 32 or 0.73 per cent to Rs 4,407 per quintal, in an open interest of 43,640 lots.