Castorseed futures climb on brisk buying

Castorseed futures prices firmed up by Rs 83.50 to Rs 4,890 per quintal today following renewed buying by traders, driven by firm spot market sentiment.

Marketmen said strong demand from consuming industries amid restricted supply in physical markets, supported an uptrend in castorseed prices.

Speculative buying due to paucity of stocks also helped to kept the prices in positive zone, they added.  

At the National Commodity and Derivatives Exchange platform, castorseed prices for current-month January contract shot up by Rs 83.50 or 1.74 per cent, to Rs 4,890 per quintal, with an open interest of 370 lots.

March contract rose by Rs 54.50, or 1.28 per cent to Rs 4,325 per quintal, exhibiting an open interest of 5,910 lots.

February contract also followed suit and gained Rs 18.50 or 0.40 per cent to Rs 4,618 per quintal, with an open interest of 7,060 lots.