Castor seed price rises by Rs 4 to Rs 5,714 per quintal in futures trade

Castor seed prices rose by Rs 4 to Rs 5,714 per quintal in futures trade Tuesday after investors widened their bets amid firm trends.

Marketmen said apart from rising demand from consuming industries, a short position of stocks in the spot markets mainly led to the rise in castor seed futures.

At the National Commodity and Derivatives Exchange, castor seed for November was trading higher by Rs 4, or 0.07 per cent, to Rs 5,714 per quintal.

Castor seed for January next year, however, dipped by Rs 30, or 0.51 per cent, to Rs 5,836 per quintal, having an open interest of 3,200 lots.