Castor seed prices declines in futures trade due to sluggish physical markets

Castor seed prices softened by 1.44 per cent to Rs 5,080 per quintal in futures trade Monday after participants liquidated holdings in line with the weak trend at the physical markets. Negative lead from the spot markets due to ample stocks, following persistent supplies against slackened demand from soap, paint and other consuming industries, led to the fall in castor seed futures prices, marketmen said.

At the National Commodity and Derivatives Exchange, castor seed for February declined by Rs 74, or 1.44 per cent, to Rs 5,080 per quintal with an open interest of 1,31,685 lots. Castor seed for March, too, slipped by Rs 78, or 1.49 per cent, to Rs 5,158 per quintal with a business turnover of 47,150 open interest lots.