NEW DELHI, July 12: Castor seed prices bounced back by Rs 73 to Rs 4,608 per quintal in futures trade today as traders preferred to regain holdings at existing levels, guided by emerging physical markets.
Market players said, fresh accumulation of holdings by the speculators at prevailing levels after yesterday’s sell-off, supported by rising prices in the spot markets due to acceleration in demand for soap, paint and lubricant industries along with the halt in supplies, led to the uptick in the prices of castor seed futures.
At the National Commodity and Derivatives Exchange, castor seed delivery for August retrieved by Rs 73, or 1.61 per cent, to Rs 4,608 per quintal, in a business turnover in 1,34,560 open lots.
Similarly, the July delivery shot up by Rs 70, or 1.56 per cent, to Rs 4,571 per quintal, revealing an open interest of 9,340 lots. (PTI)
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