Comments
Castor futures and spot prices rose on Wednesday despite poor offtake.
Overseas enquiries supported the market.
At Rajkot Commodity Exchange (RCX), castor seed June contract increased from Rs 5,091 to Rs 5,114, a gain of Rs 23 a quintal.
RCX spot castor increased by Rs 25 to Rs 5,015 a quintal.
Similarly, on Ahmedabad Commodity Exchange castor April contract was up by Rs 52.50 to Rs 5,118 and May contract rose Rs 27 to Rs 5,084 a quintal.
About 60,000 bags arrived in Gujarat at Rs 995-1,015, and 5,500 bags arrived in Saurashtra that traded at Rs 990-1,051 for 20 kg.
Sufficient arrivals
On National Commodity and Derivatives Exchange, castor for April delivery rose by Rs 45.50 to Rs 5,112 with an open interest of 6,050 lots.
May contract increased by Rs 28.50 to Rs 5,075 with an open interest of 5,180 lots.
An RCX traders said, “Some inquiries for overseas have come but we will have to see how many of these convert into demand. But over all, prices will not go up quickly even if demand increases as arrivals are sufficient.”
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.