Castorseed futures rise Rs 24 per quintal

After a gap of one year following suspending of trading by Sebi announced to relaunch the trading in castorseed yesterday, prices today witnessed a gain of Rs 24 per quintal to Rs 3,978 in early trading as speculators were raising positions in line with emerging physical markets.
Ncdex rival MCX also launched futures trading in castorseed yesterday.
Marketmen said, after commencing the trading, traders were building up new positions in line with firm physical markets where prices remained in demand following less arrivals from growing regions amid robust demand, this impacted upward movements in future trading.
At the National Commodity and Derivative Exchange counter, castorseed delivery for March improved by Rs 24 or 0.61 per cent to Rs 3,978 per quintal, with the business turnover of 4,560 open contracts.

Meanwhile, most traded February marked ahead by Rs 19 or 0.49 per cent to Rs 3,933 per quintal in an open interest of 6,480.