Castor seed prices rose by Rs 48 to Rs 5,834 per quintal in futures trade Tuesday after investors widened their bets amid firm spot cues.
Marketmen said, apart from rising demand from consuming industries, short position of stocks in the spot market mainly led to the rise in castor seed futures.
At the National Commodity and Derivatives Exchange, castor seed for June contracts was trading higher by Rs 48, or 0.83 per cent, to Rs 5,834 per quintal clocking an open interest of 228,510 lots.
Castor seed for July contracts rose by Rs 34, or 0.58 per cent, to Rs 5918 per quintal, having an open interest of 12,505 lots.
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