Castorseed futures surge 1.57 per cent on strong domestic demand

NEW DELHI: Castorseed prices spurted by Rs 65, or 1.57 per cent, to Rs 4,205 per quintal in futures trading today as traders enlarged positions, driven by strong demand in domestic as well as global markets.

At the National Commodity and Derivatives Exchange, castorseed for delivery in July spurted by Rs 65, or 1.57 per cent, to Rs 4,205 per quintal, with an open interest of 1,24,640 lots.

Also, the commodity for delivery in June was also trading higher by Rs 61, or 1.53 per cent, to Rs 4,055 per quintal with an open interest of 1,37,480 lots.

Marketmen said a steep rise in castorseed prices was mostly supported by thin supplies from growing belts amidst strong demand from consuming industries in the physical markets.

In addition, rising export demand, particularly from China and Europe, too influenced prices.