Castor seed prices rebounded by Rs 6 to Rs 4,346 per quintal in futures trade today on short covering of bets by participants, driven by rising physical markets.
Market players said, traders preferred to recover their short selling on the back of rising prices in the spot markets, which led to an uptick in castor seed futures prices.
In the spot markets, gearing up in demand for paint, soap and lubricant industries and pause in supplies boosted the trend, they said.
At the National Commodity and Derivatives Exchange counter, castor seed delivery for July edged up by Rs 6, or 0.14 per cent, to Rs 4,346 per quintal, revealing an open interest of 49,030 lots.
Also, the delivery for August inched up by the same margins and percentage to Rs 4,395 per quintal, in a business turnover of 1,06,830 lots.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)