Castorseed prices moved down by Rs 60 to Rs 5,045 per quintal in futures trading today as speculators reduced their positions following weak demand in physical markets.
Market analysts said increased supply amid sluggish demand from consuming industries in spot markets, guided traders to minimise holdings, leading to the decline in castorseed prices.
At the National Commodities and Derivatives Exchange, castorseed for delivery in May dipped by Rs 60, or 1.18% to Rs 5,045 per quintal, with an open interest of 7,380 lots.
Castorseed for delivery in June too shed Rs 46.50, or 0.90% to Rs 5,125 per quintal, with an open interest of 7,310 lots.