Castorseed futures slip 2.41%

Castorseed prices fell sharply by Rs 104 to Rs 4,204 per quintal in futures trading today as participants trimmed positions amid expectations of higher output following a rise in sowing acreage.
At the National Commodity and Derivatives Exchange, castorseed for delivery in November was trading down by Rs 104, or 2.41 per cent, to Rs 4,204 per quintal, with an open interest of 1,61,860 lots.
Also, castorseed for delivery in December dropped by Rs 103, or 2.33 per cent, to Rs 4,309 per quintal, in an open interest of 2,23,520 lots.
Marketmen attributed fall in castorseed prices to offloading of positions, triggered by higher output estimates amid slackened demand.

Furthermore, weakness in export demand dampened the trading sentiments, they said.