Castor seed futures up on firm bets

Castor seed prices rose by Rs 22 to Rs 4,212 per quintal in futures trade on Tuesday after investors widened their bets amid firm trend at the spot market. Marketmen said apart from rising demand from consuming industries, short position of stocks in the spot market mainly led to the rise in castor seed futures.

On the National Commodity and Derivatives Exchange, castor seed for December contracts was trading higher by Rs 22, or 0.53 per cent, to Rs 4,212 per quintal, clocking an open interest of 21,965 lots. Castor seed for January contracts edged higher by Rs 22, or 0.52 per cent, to Rs 4,250 per quintal having an open interest of 26,820 lots.