Castorseed Surges As Demand Picks Up

Castorseed prices rose by 0.34 per cent on Tuesday at the National Commodity & Derivatives Exchange Limited 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 December 2015 contract were trading at Rs. 3,849 per quintal tonnes, up by 0.34 per cent, after opening at Rs. 3,842 against the previous closing price of Rs. 3,836. It touched the intra-day high of Rs. 3,872 till the trading.

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

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