Castor seed futures extend fall on weak spot cues

Castor seed prices fell by Rs 75 to Rs 4,323 per quintal in futures trading today as participants engaged in trimming bets, tracking a weak trend at the physical markets on sluggish demand.

Marketmen said offloading of bets by participants, taking weak cues from the spot markets on low demand amid increased supplies, mainly led to persistent fall in castor seed prices in futures trade.

At the National Commodity and Derivatives Exchange, castor seed for delivery in July plummeted by Rs 75, or 1.71 per cent, to Rs 4,323 per quintal, clocking an open interest of 50,100 lots.

Also, delivery for June dipped by Rs 70, or 1.62 per cent, to Rs 4,256 per quintal, open interest stood at 63,770 lots.