Castorseed futures up on strong demand

Castorseed prices soared by Rs 69 to Rs 4,130 per quintal in futures trading today as traders widened their exposure at the physical markets amid pick up in export demand.
Marketmen attributed the strong rally in castroseed prices at futures trade to raising of bets by participants, driven by a firming trend at the spot markets on strong demand from consuming industries amid restricted supplies.
Besides, pick up in export demand supported the upmove in prices, they added.
At the National Commodity and Derivative Exchange, castorseed for delivery in April month contracts spurted by Rs 69, or 1.70 per cent, to Rs 4,130 per quintal, with the business turnover of 45,240 open lots.

Also, the most-active delivery in March contract rose by Rs 67 or 1.68 per cent to Rs 4,062 per quintal, clocking an open interest 47,440 lots.