Castorseed declines in futures trade

Castorseed prices fell by Rs 35 to Rs 4,531 per quintal in futures trading today following cut down of positions by participants in line with weak trend at the physical markets.
Marketmen said cutting down of bets by speculators in line with a weak trend at the markets, mainly led to the fall in castorseed prices in futures trading.
Slackened industrial demand and increased supplies from growing belts which kept prices lower at the spot markets, too weighed on sentiments, they added.
At the National Commodity and Derivatives Exchange, castorseed for most-active delivery in June receded by Rs 38, or 0.83 per cent, to Rs 4,531 per quintal, with an open interest of 1,00,440 lots.

The delivery for July was also trading lower by Rs 35, or 0.76 per cent, to Rs 4,600 per quintal, in an open interest of 12,540 lots.