Castor seed futures surge by Rs 23 per quintal

Castor seed prices rose by Rs 23 to Rs 4,710 per quintal in futures trade today as traders were collecting holdings on the back of rising prices at the spot markets.

Marketmen said following the higher physical markets stance, traders went for long positions, which resulted in a upmove in castor seed futures prices.

At the spot markets, brisk demand from paint, soap and lubricant industries amid thin supplies from producing regions, drove the prices upside, they added.

At the National Commodity and Derivatives Exchange counter, rates for October spurted by Rs 23 or 0.49 per cent to Rs 4,710 per quintal, with the business turnover in 83,370 open interest lots.

In a similar manner, the delivery of the first contract September advanced by Rs 21 or 0.46 per cent to Rs 4,634 per quintal, open interest stood of 73,080 lots.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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