Castor seed futures trade higher on weak production

Castor seed futures traded higher on NCDEX on the back of some buying at lower levels due to weak production in the current year along with strong export demand of castor meal in local mandies. Moreover, lower supply and high demand for the commodity also supported the upside of the prices. The contract for June delivery was trading at Rs 3918.00, up by 3.16% or Rs 120.00 from its previous closing of Rs 3798.00. The open interest of the contract stood at 108780.00 lots. The contract for July delivery was trading at Rs 4029.00, up by 2.99% or Rs 117.00 from its previous closing of Rs 3912.00. The open interest of the contract stood at 171180.00 lots on NCDEX.