Castorseed prices dropped by Rs 183.50 to Rs 4,650 per quintal in futures trading today following heavy selling by traders.
Market analysts said traders preferred to book profits amid subdued demand in the spot market.
Also, weak conditions persisted in physical markets due to heavy supply along with reduced offtake.
At National Commodity and Derivatives Exchange, castorseed prices for delivery in May declined by Rs 183.50, or 3.80 per cent, to Rs 4,650 per quintal, with an open interest of 1,060 lots.
Likewise, castorseed prices for delivery in April tumbled by Rs 142.50, or 2.95 per cent, to Rs 4,688 per quintal, clocking an open interest of 5,650 lots.
Castorseed prices for delivery in March dropped by Rs 141, or 2.85 per cent, to Rs 4,804 per quintal, with a business volume of 7,170 lots.
