Castorseed gains in futures trade

Castorseed prices rose by another Rs 59 to Rs 3,783 per quintal in futures trading today as speculators indulged in creating positions, triggered by a firming trend at domestic spot markets on strong demand.
At National Commodity and Derivatives Exchange, castorseed for the most-active June delivery contracts climbed 1.55 per cent to Rs 3,873 per quintal, with an open interest of 1,85,300 lots.
Similarly, delivery in May rose Rs 50, or 1.35 per cent, to Rs 3,750 per quintal in an open interest of 8,130 lots.
Marketmen said strong demand from consuming industries in the spot market amid restricted supplies from growing regions mainly influenced castorseed prices here.

Besides, rising export demand too influenced trading sentiment, they added.