Supported by strong demand at the spot market, castor seed prices rose Rs 50 to Rs 4,100 per quintal in futures trading today, as speculators enlarged positions.
At the National Commodity and Derivatives Exchange, castor seed for delivery in August contract surged Rs 50, or 1.23 per cent to Rs 4,100 per quintal, in an open interest of 9,190 lots.
Similarly, the most-active September month delivery advanced Rs 46, or 1.12 per cent to Rs 4,150 per quintal, having an open interest of 2,60,850 lots.
Marketmen said strong demand from consuming industries at the spot market against restricted supplies, mainly led to the rise in castor seed prices in futures trade.
Besides, rising export demand supported the uptrend, they added.
