Castor seed prices bounced by Rs 107 per quintal in futures trade today after participants accumulated speculative positions, powered by strong domestic and overseas demand.
Market players said a firm trend at the physical markets following frantic buying by soap and other consuming industries amid pause in arrivals from growing areas, influenced castor seed prices in futures market.
Besides, pick-up in export demand supported the rise, they added.
At the National Commodity and Derivatives Exchange, castor seed for delivery in October shot up by Rs 107, or 2.26 per cent, to Rs 4,833 per quintal, in an open interest of 13,900 lots.
Castor seed for September delivery also surged by Rs 84, or 1.81 per cent, to Rs 4,730 per quintal, clocking an open interest of 79,780 lots.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)