Castor seed futures gain on strong export demand

Castor seed futures gained on NCDEX on the back of weak production in the current year coupled with strong export demand of castor meal in local mandis. Besides, lower arrivals of the commodity from major producing belts against higher spot market demand also supported the prices. The contract for June delivery was trading at Rs 3984.00, up by 1.61% or Rs 63.00 from its previous closing of Rs 3921.00. The open interest of the contract stood at 30680.00 lots. The contract for July delivery was trading at Rs 4162.00, up by 1.46% or Rs 60.00 from its previous closing of Rs 4102.00. The open interest of the contract stood at 231930.00 lots on NCDEX.