Castorseed weakens in futures trade

Continuing its weakness, castorseed prices fell by another Rs 175 to Rs 4,908 per quintal in futures trade today as speculators indulged in trimming positions due to subdued domestic demand.
At the National Commodity and Derivatives Exchange, castorseed delivery in January contracts declined by Rs 175, or 3.44 per cent, to Rs 4,908 per quintal in an open interest of 1,72,830 lots.
In similar fashion, delivery in far-month February contracts fell by Rs 42, or 0.87 per cent, to Rs 4,760 per quintal, with an open interest of 1,10,670 lots.
Marketmen said slackness in demand from consuming industrial units at spot markets against increased arrivals from growing regions largely kept castorseed prices in negative territory.

Besides, weak export demand also dampened sentiments, they said.