Castor seed prices rise marginally as investors widen bets

Castor seed prices rose by Rs 14 to Rs 5,150 per quintal in futures trade Friday 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 market mainly led to the rise in castor seed futures.

At the National Commodity and Derivatives Exchange, castor seed for March was trading higher by Rs 14, or 0.28 per cent, to Rs 5,150 per quintal, clocking an open interest of 26,390 lots. Castor seed for April edged higher by Rs 18, or 0.35 per cent, to Rs 5,228 per quintal having an open interest of 136,385 lots.

(With inputs from agencies.)