Castor seed declines on selling pressure

Slack demand, ample supply in physical markerts also weighed on prices

Castor seed futures prices today looked down by Rs 35 to Rs 3,120 per quintal due to profit- booking by traders at prevailing higher levels.

Marketmen said apart from profit taking, slackness in demand and ample supply in physical markets also put weight on traders to reduce holdings, this caused the fall in prices.

At National Commodity and Derivatives Exchange counter, castorseed prices for far August month contract slipped by Rs 35, or 1.11%, to Rs 3,120 per quintal, with an open interest of 9,320 lots.

Most active near July contract declined by Rs 29, or 0.94%, to Rs 3,056 per quintal, clocking an open interest of 34,340 lots, while current month June's contract eased by Rs 29, or 0.80%, to Rs 2,987 per quintal, in 10,200 lots.