Limited new buying by exporters lifted castorseed in spot and futures markets on Thursday.
The October contract on the National Commodity and Derivatives Exchange increased by Rs 26.50 or 0.62 per cent to Rs 4,315 a quintal, with an open interest of 10,750 lots while the November contract was up Rs 24 to Rs 4,075, with an open interest of 24,400 lots.
Castorseed for December delivery rose by Rs 29 to Rs 3,869 a quintal on Rajkot Commodity Exchange (RCX). Spot castor on the exchange increased by Rs 10 to Rs 4,050 a quintal.
While 9,000-10,000 bags arrived in Gujarat and sold at Rs 810-830 for 20 kg, 700-800 bags arrived in Saurashtra and sold at Rs 760-800.
Castor gained as exporters bought to fulfil old contracts, though overall demand is limited because of weak international markets, said Mr Haribhai Patel, a senior trader on RCX.
According to the Agriculture Department of Gujarat, area under castor rose to 8.11 lakh hectares in this kharif season against 5.18 lakh hectares last year.
According to the Agriculture Department, castor sowing in the country has increased by 3.9 lakh hectares to 12.75 lakh hectares this year from 8.82 lakh hectares.