Castor seed prices up by Rs 8 on firm bets

Castor seed prices rose by Rs 8 to Rs 5,340 per quintal in futures trade Thursday after investors widened their bets amid firm trends.

Marketmen said apart from rising demand from consuming industries, shortage of stocks in the spot markets mainly influenced the castor seed futures here.

At the National Commodity and Derivatives Exchange, castor seed for delivery in February was trading higher by Rs 8, or 0.15 per cent, to Rs 5,340 per quintal, clocking an open interest of 1,07,280 lots.

Castor seed for delivery in March rose by Rs 26, or 0.48 per cent, to Rs 5,420 per quintal having an open interest of 3,200 lots.