Castorseed futures down on higher production prospects

Castorseed prices extended losses by Rs 71 to Rs 3,865 per quintal in futures trade today as speculators trimmed positions largely on higher production estimates.
At the National Commodity and Derivative Exchange, castorseed for delivery in March was down by Rs 71, or 1.80 per cent, to Rs 3,865 per quintal, with an open interest of 95,370 lots.
The current February contracts also slipped by Rs 57, or 1.47 per cent, to Rs 3,820 per quintal, in an open interest of 13,200 lots.
Marketmen attributed the fall in castorseed prices to higher production estimates and slackened spot as well as export demand.