Castor seed prices drifted lower by Rs 42 to Rs 4,384 per quintal in futures trading today as participants preferred to reduce holdings at existing levels amid a weak trend at the spot markets.
Market players said besides profit-taking by speculators, increased arrivals and withdrawal of support from soap and lubricant industries in spot markets, dragged down castor seed prices at futures trade here.
At the National Commodity and Derivative Exchange,castor seed for delivery in November receded by Rs 42 or 0.95 per cent to Rs 4,384 per quintal, with an open interest of 68,470 lots.
The delivery for the December also moved down by Rs 38 or 0.85 per cent to Rs 4,441 per quintal, having an open interest of 51,190 lots.
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