Castorseed futures climb on fresh buying

Castorseed futures prices surged by Rs 56.50 to Rs 3,900 per quintal today, following speculative buying by traders, driven by firm spot market sentiment.

Marketmen said paucity of stocks amid aggressive buying in physical markets, encouraged traders to enlarge holdings in castorseed futures. 

At the National Commodity and Derivatives Exchange counter, castorseed prices for delivery in November shot up by Rs 56.50, or 1.47 per cent to Rs 3,900 per quintal, with an open interest of 2,360 lots.

January month contract jumped up by Rs.48.50, or 1.42 per cent to Rs 3,475 per quintal, clocking an open interest of 3,250 lots.

While most active December month contract showed a rise of Rs 33.50, or 0.94 per cent at Rs 3,610 per quintal, with an open interest of 6,360 lots.