Castorseed futures price dips on increase selling

Castorseed prices slipped by Rs 44 to Rs 4,113 per quintal in futures trade today on the back of fall in overseas and domestic demand against rising stocks position.
Marketmen said increased selling by traders on existing higher levels mainly led the fall in prices.
Improvement in supply as well as selling on higher levels mainly created increased stocks position in the spot markets and pulled down the prices of castor seed.
At the National Commodity and Derivatives Exchange, castorseed prices for May contract dropped by Rs 44, or 1.06 per cent to Rs 4,113 per quintal, with an open interest of 1,34,090 lots.

Current April contract also moved down by Rs 42, or 1.03 per cent to Rs 4,053 per quintal, in an open interest of 90,260 lots.