Castorseed prices closed higher by 0.65 per cent on Saturday 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 November 2012 contract closed at Rs. 3,565 per quintal tonnes, up by 0.65 per cent, after opening at Rs. 3,560 against the previous closing price of Rs. 3,542. It touched the intra-day high of Rs. 3,565.
Castor is a non-edible oilseed crop; basically a cash crop, with average 46 per cent oil recovery.