Castor seed futures continue losing streak, slip 1.18%

Castor seed prices extended losses by falling Rs 53 to Rs 4,420 per quintal in futures trade today on continuous liquidation by participants.
Marketmen said traders were cutting bets constantly depressed by weak trend in spot markets, which kept the castor seed futures prices in the red zone for the second straight day today.
In spot market, sluggish demand for soap, paint and lubricant industries, along with constant supplies from producing regions, are keeping prices lower.
At the National Commodity and Derivative Exchange platform, castor seed delivery for February contracts dropped further by Rs 53 or 1.18 per cent to Rs 4,420 per quintal, with an open interest of 68,250 lots.

Likewise, the delivery for January contracts dropped by Rs 43 or 0.97 per cent to Rs 4,368 per quintal, with an open interest of 14,790 lots.