Castor seed prices drop by Rs 8 per quintal in futures trade

Castor seed prices softened by Rs 8 to Rs 5,240 per quintal in futures trade Wednesday as operators reduced holdings amid negative physical lead. Marketmen said, trimming of positions by participants in line with weak trend at spot markets on mounting stocks following relentless arrivals from growing bets against slackened demand from consuming industries, led to the fall in castor seed prices in futures trade here.

At the National Commodity and Derivatives Exchange, castor seed for the most-traded delivery in January slipped by Rs 8 or 0.15 per cent to Rs 5,240 per quintal, clocking an open interest of 78,280 lots. The rates for February also shed Rs 8 or 0.11 per cent to Rs 5,320 per quintal, revealing an open interest of 1,00,170 lots.

(With inputs from agencies.)