Castor seed prices spurted by Rs 71 to Rs 3,451 per quintal in future trading today owing to renewed demand of consuming industries as well as exporters.
Marketmen said besides increased buying in spot markets, higher demand from major global consumers such as US and China mainly pushed up the prices.
At the National Commodity and Derivatives Exchange, castor seed for October contract surged by Rs 71, or 2.10% to Rs 3,451 per quintal with open interest of 16,930 lots.
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Most active September contract rose by Rs 65, or 1.97% to Rs 3,372 per quintal, having an open interest of 1,32,200 lots.
August contract improved by Rs 56, or 1.73%, to Rs 3,289 per quintal, clocking an open interest of 85,080 lots.