Castor seed futures ease on weak demand

Castor seed prices slipped by Rs 5 to Rs 4,080 per quintal in futures trading today as traders preferred to cut down holdings in line with weak sentiment amid feeble export demand.

Market players said weak spot markets sentiment due to weak demand for paint, soap and lubricant industries amid abound availability of ready stocks in the market discouraged traders, resulting in fall in castor seed futures prices.

Besides, slackness in export demand too weighed on castor seed futures prices, they quoted.

At the National Commodity and Derivatives Exchange castor seed delivery for the most traded April month went down by Rs 5 or 0.12 per cent to Rs 4,080 per quintal, in an open interest of 46,860 lots.

Also, the delivery of the second contract May month edged down by Rs 4 or 0.10 per cent to Rs 4,129 per quintal, having an open interest of 24,560 lots.