Castor seed prices firmed up by Rs 31 to Rs 4,130 per quintal in futures trade today as participants built up fresh positions in sync with rebounding of demand in the spot as well as overseas markets.
Market players said, recovery in castor seed futures prices to gearing up in demand for soap, paint and lubricant industries in the spot markets amid tight supplies from producing belts.
In addition, a significant rise in export demand also helped to boost trading sentiments in castor seed futures prices, they quoted.
At the National Commodity and Derivative Exchange platform, castor seed delivery for March contract increased by Rs 31, or 0.76 per cent, 4,1340 per quintal with an open interest of 2,070 lots.
In a similar way, the delivery of April contract advanced by Rs 11, or 0.26 per cent, to Rs 4,200 per quintal with a business turnover of 58,390 open lots.
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