Castor seed prices spurted by Rs 58 to Rs 4,535 per quintal in futures trade today after participants accumulated positions amid a firm trend at the physical markets.
Marketmen said huge positions created by participants, triggered by strong demand from soap, paints and lubricant industries amid thin arrivals from growing belts, led to the rise in castor seed futures prices.
At the National Commodity and Derivatives Exchange, castor seed delivery for the July contracts jumped by Rs 58, or 1.30 per cent, to Rs 4,535 per quintal with an open interest of 2,550 lots.
Similarly, the contract for delivery in August too hardened by Rs 49, or 1.09 per cent, to Rs 4,558 per quintal in a business turnover of 1,32,440 lots.
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