 "Castorseed futures decline on selling pressure")
Castorseed prices dropped by Rs 67 to Rs 3,456 per quintal in futures trade today following profit booking by traders in line with weak physical markets.
Market men said castorseed prices fell on speculators booking profits amid reports of better output this season on good monsoon.
They said states such as Gujarat, Punjab, Haryana and Rajasthan have benefited from the rains.
At the National Commodity and Derivatives Exchange, castorseed prices for July fell by Rs 67, or 1.90%, to Rs 3,456 per quintal, with an open interest of 1,46,500 lots.
Near August contact lost Rs 67, or 1.85%, to Rs 3,552 per quintal in 1,05,080 lots.
Market men said castorseed prices fell on speculators booking profits amid reports of better output this season on good monsoon.
They said states such as Gujarat, Punjab, Haryana and Rajasthan have benefited from the rains.
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India is the leading producer and biggest exporter of castor oil in the world and Gujrat is prominent producer followed by Andhra Pradesh and Rajasthan.
At the National Commodity and Derivatives Exchange, castorseed prices for July fell by Rs 67, or 1.90%, to Rs 3,456 per quintal, with an open interest of 1,46,500 lots.
Near August contact lost Rs 67, or 1.85%, to Rs 3,552 per quintal in 1,05,080 lots.
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