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Indian castor

futures rise

BOMBAY: Castorseed December delivery climbed 6.50 rupees per quintal to 1,033/1,034 on speculative buying fuelled by the absence of rains, dealers said.

"Rains have not been sufficient this year and that triggered bull support," said a dealer.

Trading in September delivery remained at low ebb due to the approaching delivery period. Most of the outstanding deals have been switched over to December delivery, the dealer said.

In the edible oils market, groundnut oil slid by two rupees per 10 kg to 415 as traders continued selling. It had lost 12 rupees per 10 kg during the last week.

Dealers said market talk of arrivals of about 20,000-25,000 tonnes of imported palm-oil also weakened market's sentiment.

Ready palm-oil (imported) was quoted at 305/306 rupees per 10 kg.-Reuter