Castor seed prices drifted lower by Rs 17 to Rs 4,783 per quintal in futures trade Tuesday as participants pressed fresh selling at existing levels, driven by a subdued trend at the physical markets.
Marketmen said trimming of bets by the participants tracking a weak trend at the spot markets on ample stocks on persistent supplies from growing belts against thin industrial demand, led to the fall in castor seed prices in futures trade here.
At the National Commodity and Derivatives Exchange, castor seed to be delivered in November contracts declined by Rs 17 or 0.35 per cent to Rs 4,783 per quintal, with an open interest of 46,370 lots.
Castor seed for delivery in October too fell by Rs 14 or 0.30 per cent to Rs 4,715 per quintal, clocking a business turnover of 1,39,540 open lots.
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