Castorseed up on export enquiries

Spot prices of castorseed gained on the back of good export demand for castor oil. With this, speculative buying on strong spot demand lifted castorseed futures. Castor oil also improved marginally. On the NCDEX, castor August contract was up ₹29 to ₹4,297 a quintal, with an open interest of 23,100 lots. On the Rajkot Commodity Exchange, September series increased ₹15 to ₹4,335. RCX spot castor gained ₹62.50 to ₹4,125. Castor oil was higher by ₹5 to ₹855/10 kg. About 20,000-22,000 bags of castor seed arrived in Gujarat and went for ₹830-840 for 20 kg. Around 1,600-1,700 bags arrived in Saurashtra and traded for ₹790-800.