Castorseed prices shot up by Rs 102 to Rs 4,968 per quintal in futures trading today as traders went for long positions, guided by strong physical as well as overseas markets.
Marketmen said thin supplies from growing regions as farmers held their produce on expectation of more hike in prices, sparked by a boost in demand for paint and lubricant industries in spot markets largely encouraged traders to built up long positions, this buoyed uptrend in prices here in future trading.
At the National Commodity and Derivatives Exchange, castorseed delivery for the most active second contract May jumped up by Rs 102, or 2.10 per cent, to Rs 4,968 per quintal, with an open interest of 76,070 lots.
The delivery for immediate contract of April also flared up by Rs 94, or 1.96 per cent, to Rs 4,901 per quintal, having an open interest of 43,300 lots.
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