Castor seed prices bounced back by Rs 30 to Rs 4,204 per quintal in futures trade today after participants created fresh positions, tracking a firm trend at the spot market on rising demand.
At the National Commodity and Derivatives Exchange, castor seed to be delivered in August contracts improved by Rs 30, or 0.72 per cent, to Rs 4,204 per quintal with an open interest of 31,960 lots.
Castor seed for delivery in July also rose by Rs 24, or 0.58 per cent, to Rs 4,157 per quintal with an open interest of 87,810 lots.
The recovery in castor seed prices at futures market was mostly attributed to building up of fresh positions, triggered by a better trend at the spot markets on the back of increased demand from soap, paint and other consuming industries against pause in supplies from growing belts.
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