Castorseed futures lift up further on accumulation of holdings

Castorseed prices traded higher for the second consecutive day by Rs 43 at Rs 4,279 per quintal in futures trading today on optimistic buying by speculators, tracking strong demand in the spot as well as overseas markets.
Marketmen said backing brisk demand in spot markets on tight stocks due to restricted arrivals from growing regions amid frantic buying by paint and lubricant industries in spot markets mainly held castorseed prices in the green zone for the second straight day at the future market.
Rising export demand also helped to boost trading sentiments, they added.
At the National Commodity and Derivatives Exchange counter, castorseed delivery for June enquired further higher by Rs 43, or 1.02 per cent, to Rs 4,279 per quintal, with an open interest of 28,470 lots.

The contract for July was also trading higher by Rs 41, or 0.95 per cent, to Rs 4,344 per quintal, having an open interest of 93,720 lots.