Castorseed up 1.3% on spot demand

Traders build fresh positions on surge in offtake from paint making units ahead of festivities

Castorseed prices rebounded by Rs 54 to Rs 4,269 per quintal in futures trade today as traders built up fresh positions, triggered by a firming trend at the spot market.

Market analysts said spurt in demand from paint industries in the spot markets ahead of festivities, mainly influenced the castorseed prices at futures trade.

At the National Commodity and Derivatives Exchange, castorseed delivery for November contracts rallied Rs 54, or 1.28 per cent, to Rs 4,269 per quintal, clocking an open interest of 2,22,440 lots.

Also, commodity for delivery in October contracts was trading higher by Rs 30, or 0.73 per cent, at Rs 4,155 per quintal and open interest stood at 97,120 lots.