Castor seed prices were marked higher by Rs 10 to Rs 3,982 per quintal in futures trade today as operators created fresh positions, driven by strong trends at the physical markets.
Marketmen attributed the rise in castor seed futures prices to building up of fresh positions by speculators, tracking a firm trend at the spot markets on the back of rising demand from paint, soap and other consuming industries.
In addition, tight stock positions due to restricted arrivals from growing belts too supported the upside in prices, they added.
At the National Commodity and Derivatives Exchange, castor seed to be delivered this month increased by Rs 10 or 0.25 per cent to Rs 3,982 per quintal, clocking an open interest of 46,340 lots.
In a similar way, contracts for the most-traded July edged up by Rs 8 or 0.20 per cent to Rs 4,032 per quintal, depicting an open interest of 68,540 lots.
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