Castorseed futures strengthen on low level buying

Written by Agencies | New Delhi | Updated: Jun 30 2011, 22:18pm hrs
Castorseed prices rose by Rs 41.50 to Rs 4,800 per quintal in futures trade on Thursday on aggressive buying by traders in line with a firm overseas and domestic markets cue.

Market analysts said low stocks position and pick-up in demand at prevailing lower levels in line with a firming global trend mainly pushed up castorseed futures price here.

At the National Commodity and Derivatives Exchange, castorseed for September delivery climbed by Rs 41.50, or 0.87 per cent, to Rs 4,800 per quintal, clocking an open interest of 4,320 lots.

Castorseed for delivery in July also gained Rs 14.50, or 0.30 per cent, to Rs 4,775 per quintal, with an open interest of 5,620 lots.

Likewise, its prices for August delivery rose by Rs 17.50, or 0.37 per cent, to Rs 4,804 a quintal in 6,180 lots.