Castor seed prices drifted lower by Rs 30 to Rs 4,061 per quintal in the futures trade today following liquidated positions by the traders and weak physical markets sentiments.
Market players said speculators preferred cutting down holdings in view of falling prices at the spot markets due to sluggish demand from paint, soap and lubricant industries, eventually pulling down castor seed prices.
At the National Commodity and Derivatives Exchange, castor seed delivery for the most traded second June declined by Rs 30 or 0.73 per cent to Rs 4,061 per quintal, with an open interest of 99,520 lots.
The delivery for May also slipped by Rs 26 or 0.64 per cent to Rs 4,021 per quintal, having an open interest of 1,840 lots.
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