Castor seed prices plunge on negative spot cues

Castor seed prices slumped by Rs 92 to Rs 4,505 per quintal in futures trading today as traders liquidated holdings partially, tracking a weak trend at the physical market.
Marketmen said, the fall in castorseed prices in futures trade was mostly due to offloading of positions by speculators in tune with a weak trend at the spot markets following low demand form consuming industries.
At the National Commodity and Derivatives Exchange, castorseed for delivery in September plummeted by Rs 92, or 2 per cent, to Rs 4,505 per quintal, with an open interest of 12,520 lots.
Castor seed for August delivery also slipped by Rs 90, or 1.99 per cent, to Rs 4,430 per quintal, in an open interest of 76,820 lots.