Castorseed plunges 2.98% in futures trade

Castorseed tumbled by 2.98 per cent to Rs 3,974 per quintal in futures trading today, taking weak cues from the physical market on ample stock position amidst weak global cues.
At the National Commodity and Derivatives Exchange, castorseed for delivery in October plummeted by Rs 122, or 2.98 per cent to Rs 3,974 per quintal, with an open interest of 14,120 lots.
Castorseed for delivery in September was also trading lower by Rs 108, or 2.68 per cent to Rs 3,921 per quintal, having an open interest of 1,38,720 lots.
Marketmen said offloading of positions by participants to book profits amidst rising inventories led to the fall in castorseed prices.

In addition, a slackened export demand too weighed on prices, they added.