Castor seed futures up 0.76% on spot demand

Castor seed prices firmed up by Rs 31 to Rs 4,130 per quintal in futures trade today as participants built up fresh positions in sync with rebounding of demand in the spot as well as overseas markets.

Market players said, recovery in castor seed futures prices to gearing up in demand for soap, paint and lubricant industries in the spot markets amid tight supplies from producing belts.

In addition, a significant rise in export demand also helped to boost trading sentiments in castor seed futures prices, they quoted.

At the National Commodity and Derivative Exchange platform, castor seed delivery for March contract increased by Rs 31, or 0.76 per cent, 4,1340 per quintal with an open interest of 2,070 lots.

In a similar way, the delivery of April contract advanced by Rs 11, or 0.26 per cent, to Rs 4,200 per quintal with a business turnover of 58,390 open lots.

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

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel