Castorseed rises by 2.06% as demand picks up

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Castorseed prices rose by 2.06 per cent on Tuesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the rise in demand from consuming industries against restricted arrivals in domestic markets which in turn encouraged the investors to enlarge their holdings. At the NCDEX, castor seed futures for September 2013 contract were trading at Rs. 3,817 per quintal tonnes, up by 2.06 per cent, after opening at Rs. 3,794 against the previous closing price of Rs. 3,740. It touched the intra-day high of Rs. 3,850 till the trading. (At 11.50 AM today).

Castor is a non-edible oilseed crop; basically a cash crop, with average 46 per cent oil recovery.

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Story first published: Tuesday, September 3, 2013, 22:00 [IST]
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