Castor seed futures extend weakness on low spot, export demand

Castor seed prices were down by another Rs 60 to Rs 4,360 per quintal in futures trade today as traders offloaded their positions,triggered by muted spot as well as export demand.
Marketmen said considerable fall in demand from paint and lubricant industries in physical markets against constant supplies from producing belts, led to fall in castor seed prices in futures trade here.
This apart, weak export demand too negatively impacted sentiments, they added.
At the National Commodity and Derivative Exchange, castor seed for delivery in July dipped by Rs 60 or 1.36 per cent to Rs 4,360 per quintal, showing an open interest of 47,000 lots.

Castor seed for most-traded June delivery contracts also dropped by Rs 57 or 1.31 per cent to Rs 4,297 per quintal, clocking an open interest of 69,050 lots.