Castorseed futures gains on brisk buying

Castorseed prices surged by Rs 68 to Rs 4,520 per quintal in futures trading today following heavy buying by traders, driven by firm spot market sentiment.

Marketmen said apart from strong industrial demand against paucity of stocks mainly supported the uptrend in castorseed prices.    

At the National Commodity and Derivatives Exchange platform, castorseed prices for January contract shot up by Rs 68 or 1.53 per cent to Rs 4,520 per quintal, clocked an open interest of 2,570 lots. 

Most-active February delivery also climbed by Rs 64 or 1.54 per cent to Rs 4,220 per quintal, exhibiting an open interest of 6,550 lots.

On the other hand, April delivery contract softened by Rs 17 or 0.43 per cent to Rs 3,900 per quintal, with an open interest of 840 lots.