Castorseed futures up on positive physical cues

Castorseed prices were up by Rs 49 to Rs 4,456 per quintal in futures trading today after participants raised their bets, driven by a firm trend at the physical markets.
Marketmen attributed the rise in castorseed prices in futures trade to widening of positions by participants, tracking a firm trend at the spot markets on restricted supplies from growing belts and robust demand from consuming industries.
Besides, pick up in export demand supported the upside in prices, they added.
At the National Commodity and Derivatives Exchange, castorseed for delivery in July was trading higher by Rs 48, or 1.11 per cent, to Rs 4,382 per quintal, in an open interest of 37,090 lots.

Castorseed for most-traded August delivery also hardened by Rs 49, or 1.11 per cent, to Rs 4,456 per quintal, with an open interest at 65,680 lots.