 "Castorseed down 2% in futures trade")
Castorseed prices declined sharply by Rs 86 to Rs 3,736 per quintal in futures trading today as participants trimmed positions amid arrival of new crop in the markets.
Besides, subdued demand weighed on prices.
At the National Commodity and Derivatives Exchange, castorseed for delivery in February month contracts plunged by Rs 86, or 2.25% to Rs 3,736 per quintal, with an open interest of 6,150 lots.
Marketmen said increased supplies of new crops in the markets against fall in domestic and export demand in physical markets mainy led to the fall in castroseed prices at futures trade.
Weak export demand was another dampaning factor behind the price fall, they added.
Besides, subdued demand weighed on prices.
At the National Commodity and Derivatives Exchange, castorseed for delivery in February month contracts plunged by Rs 86, or 2.25% to Rs 3,736 per quintal, with an open interest of 6,150 lots.
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Also, the most-active March month contracts slipped by Rs 76, or 1.96% to Rs 3,810 per quintal, in an open interest of 1,05,510 lots.
Marketmen said increased supplies of new crops in the markets against fall in domestic and export demand in physical markets mainy led to the fall in castroseed prices at futures trade.
Weak export demand was another dampaning factor behind the price fall, they added.