Castor seed prices recovered sharply by Rs 42 to Rs 4,528 per quintal in futures trading after speculators accumulated positions at prevailing existing levels amid a firm trend at the domestic spot markets.
Marketmen said fresh positions created by participants at current levels amid a firm trend in spot markets on the back of revived demand from paint and lubricant industries, mostly supported the rally in castor seed prices in futures trade.
Besides, emergence of export demand too boosted sentiments, they added.
At the National Commodity and Derivatives Exchange, castor seed for July delivery recovered by Rs 42, or 0.94 per cent, to Rs 4,528 per quintal, with an open interest of 24,240 lots.
On a similar line, castor seed for delivery in most- active June was trading higher by Rs 40, or 0.91 per cent, to Rs 4,459 per quintal, in an open interest of 90,470 lots.
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