Castorseed down 0.8% on subdued demand

Castorseed prices fell by Rs 35 to Rs 3,902 per quintal in futures trade today after speculators trimmed positions triggered by higher output estimates and weak domestic as well as export demand.

At the National Commodity and Derivative Exchange, castorseed for delivery in February dropped by Rs 35, or 0.89%, to Rs 3,902 per quintal with an open interest in 50,810 lots.

Also, March contracts moved down by Rs 22, or 0.55%, to Rs 3,951 per quintal, having an open interest of 83,660 lots.

Marketmen attributed the fall in castroseed prices at futures trade to offloading of positions by speculators triggered by higher production estimates and weak domestic and export demand at spot markets.