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Castorseed prices flared up by Rs 176.50 to Rs 5,405 a quintal in futures trade today following aggressive buying by traders in line with firm overseas and domestic markets cue.
Market analysts said low stocks position against heavy buying by consuming industries in the physical markets and firm global market sentiment, influenced futures trading.
At the National Commodity and Derivatives Exchange, castorseed prices for delivery in March hardened by Rs 176.50 or 3.38 per cent to Rs 5,405 a quintal, clocking an open interest of 7,730 lots.
Castorseed prices for delivery in February spurted by Rs 166.50 or 3.06 per cent to Rs 5,605 a quintal, with an open interest of 5,090 lots.
Similarly, prices for May contract jumped up by Rs 151.50 or 3.01 per cent to Rs.5,190 a quintal, showing an open interest of 130 lots.
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