Castor seed futures soar further on strong spot, global cues

Castor seed prices flared up by Rs 69 to Rs 4,805 per quintal in futures trading today on renewed buying by participants influenced by strong physical as well as overseas demand.
Market players attributed the spurt in castor seed prices to strong demand in spot markets for paint and lubricant industries.
Apart from this, a spurt in export demand also buoyed the uptrend in prices, they quoted.
At the National Commodity and Derivatives Exchange, castor seed delivery for April climbed up further by Rs 69, or 1.46 per cent, to Rs 4,805 per quintal, clocking an open interest of 95,320 lots.

The delivery for May also jumped up by Rs 66, or 1.37 per cent, to Rs 4,873 per quintal, showing an open interest of 51,080 lots.