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Castor seed prices drifted by Rs 48 to Rs 3,073 per quintal in futures trade today following selling by traders, sparked by heavy stocks position in the spot markets.
Marketmen said speculators reducing their positions driven by weak trend in the spot market mainly pulled down prices.
They said less demand from consuming industries such as paint, soap and lubricant also brought down the trading sentiments.
At the National Commodity and Derivatives Exchange, castorseed prices for August delivery slipped again by Rs 48, or 1.54%, to Rs 3,073 per quintal, with an open interest of 1,16,840 lots.
Near September contract fell by Rs 45, or 1.40%, to Rs 3,170 per quintal, in an open interest of 1,04,660 lots.
