Castorseed futures recover on short covering

Castorseed futures prices recovered by Rs 47 to Rs 3,500 per quintal today, following speculators covering their pending long positions created in the recent past.

Market experts said after the recent sell off, speculators cleared their pending positions following a better trend in spot markets.

At the National Commodity and Derivatives Exchange counter, castorseed price for delivery in February recovered by Rs 47 or 1.36 per cent to Rs 3,500 per quintal, with an open interest of 2,480 lots.

The prices for delivery in December also regained Rs 12, or 0.31 per cent to Rs 3,908 per quintal, clocking an open interest of 4,760 lots.