Castorseed prices fall on weak demand

Castorseed prices slumped by Rs 18 to Rs 4,195 per quintal in futures trading today as participants indulged in cutting down their positions, owing to a weak trend at the domestic due to subdued demand.
Besides, weak cues from overseas markets too weighed on sentiments.
At the National Commodity and Derivative Exchange, castorseed for delivery in current month contracts fell by Rs 18 or 0.43 per cent to Rs 4,195 per quintal, open interest stood at 14,180 lots.
Also, castorseed for most-active delivery in April contracts fell by Rs 16 or 0.37 per cent to Rs 4,257 per quintal, clocking an open interest of 98,500 lots.

Marketmen said fall in castorseed prices at futures trade was mostly in line with a weak trend at the domestic physical markets on increased arrivals from growing areas amid muted demand from consuming industries.