Castorseed futures jumps on low inventories

PTI New Delhi | Updated on February 18, 2011

Supported by low inventories against increased demand, castorseed prices rose by over 2.5 per cent per quintal at the futures trading today.

At the National Commodity and Derivatives Exchange, castorseed for delivery in June went up by Rs 129 or 2.51 per cent to Rs 5,270 per quintal with an open interest of 60 lots. Similarly, February contract surged by Rs 46 or 0.85 per cent to Rs 5,433 per quintal with an open interest of 40 lots.

Likewise, castorseed for March delivery gained Rs 5 or 0.09 per cent to Rs 5,330 per quintal with a business turnover of 8,600 lots.

Market analysts said tight stocks following restricted supply, against rise in demand at the spot market, led to the rise in castorseed prices at the futures trade here.

Also, higher overseas markets influenced the trading sentiment to some extent, they added.

Published on February 18, 2011

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