Castorseed prices dropped by Rs 161 to Rs 4,650 per quintal on aggressive selling by speculators due to rising inventories and sluggish demand in the physical markets.
At the National Commodity and Derivatives Exchange, castorseed for July tumbled by Rs 161, or 3.35% to Rs 4,650 per quintal, with open interest of 7,050 lots.
Likewise, its prices for June delivery fell by Rs 117.50, or 2.46% to Rs 4,652 per quintal, with an open interest of 9,980 lots.
Market analysts said all round selling by traders in line with a weak domestic and overseas markets sentiments, influenced the trading sentiments here in future price of castorseed.