Castorseed Gains On Bullish Industrial Demand

Castorseed prices rose by 0.18 per cent on Friday 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 February 2016 contract were trading at Rs. 3,405 per quintal tonnes, up by 0.18 per cent, after opening at Rs. 3,385 against the previous closing price of Rs. 3,399. It touched the intra-day high of Rs. 3,410 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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