Castorseed futures dip on heavy selling

Castorseed prices tumbled Rs 191 to Rs 4,606 per quintal in futures trading today on the back of fall in both overseas and domestic demand against heavy supply from producing regions.
Marketrmen said all round selling by traders on existing higher levels mainly led the sharp fall in prices.
Slackness in overseas demand also helped to pull down the prices, they added.
At the National Commodity and Derivatives Exchange counter, castorseed prices for most far May contract dropped by Rs 191, or 3.98 per cent, to Rs 4,606 per quintal, with an open interest of 3,200 lots.
Most active near February contract dipped by Rs 165, or 3.63 per cent, at Rs 4,375 per quintal, having an open interest of 1,75,650 lots.

Current January month contracts also slided by Rs 157, or 3.51 per cent, to Rs 4,319 per quintal with an open interest of 35,900 lots.