Markets

Agriwatch: Castor seeds, mentha trade higher in morning trade

Castor seed prices rose by Rs 30 to Rs 5,208 per quintal in futures trade Wednesday after investors widened their bets amid firm trends.

Marketmen said apart from rising demand from consuming industries, short position of stocks in the spot markets mainly led to the rise in castor seed futures.

At the National Commodity and Derivatives Exchange, castor seed for January was trading higher by Rs 30, or 0.58 per cent, to Rs 5,208 per quintal.

Castor seed for February next year, however, dipped by Rs 26, or 0.49 per cent, to Rs 5,284 per quintal, having an open interest of 35,135 lots.

Mentha oil: Mentha oil prices were marginally up by 0.08 per cent in futures trade Wednesday after speculators built up fresh positions amid pick-up in demand in domestic spot market.

Besides, restricted arrivals from major producing belts supported the upside.

At the Multi Commodity Exchange, mentha oil for delivery in January 2019 contract was up by Rs 1.10, or 0.08 per cent, to Rs 754.20 per kg in a business volume of 35 lots.

Marketmen said fresh positions created by traders due to uptick in demand from consuming industries in the physical market against restricted supplies from Chandausi (Uttar Pradesh), led to rise in prices.

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