Castor seed futures surge on spot sentiments

Castor seed prices firmed up by Rs 31 to Rs 4,486 per quintal in futures trading today on accumulation of positions by the speculators fostered by upbeat physical markets sentiment.
Marketmen said speculators were indulged in building up positions backed up by rising price at spot markets, where prices were ruling higher on the back of strong demand from soap, paint and lubricant industries amid tight supplies from growing belts, which described uptrend in castor seed futures prices.
At the National Commodity and Derivative Exchange platform, castor seed delivery for the immediate December month hardened by Rs 31 or 0.70 per cent to Rs 4,486 per quintal, with an open interest of 2,810 lots.

The delivery for the most traded January month contract also improved by Rs 22 or 0.49 per cent to Rs 4,527 per quintal, clocking an open interest of 75,250 lots.