Castorseed futures remain up on spot demand

NEW DELHI: Castorseed prices firmed up further by Rs.44 to Rs.3,466 per quintal in futures trading today as speculators enlarged positions supported by rising demand in spot markets.

At the National Commodity and Derivatives Exchange, castorseed oil for the most-active July month contracts shot up by Rs.44, or 1.29 per cent to Rs.3,466 per quintal, with an open interest of 1,62,770 lots.

Similarly, delivery in June contracts moved up by Rs.13, or 0.38 per cent to Rs.3,410 per quintal, having an open interest of 600 lots.

All ruling five contract of castorseed remained in positive zone on speculative buying support.

Market analysts said rising doemstic and export demand in the physical markets, restricted supplies also attributed rise in castorseed prices at futures trade.