Castor seed futures trade higher on rising demand

Castor seed futures traded higher on NCDEX 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. However, weak export inquiries of meal in local mandis capped the gains in prices. The contract for May delivery was trading at Rs 3977.00, up by 0.66% or Rs 26.00 from its previous closing of Rs 3951.00. The open interest of the contract stood at 66360.00 lots. The contract for June delivery was trading at Rs 4035.00, up by 0.52% or Rs 21.00 from its previous closing of Rs 4014.00. The open interest of the contract stood at 129090.00 lots on NCDEX.