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Castorseed prices fell by Rs 50 to Rs 3,405 per quintal in futures trading today following increased selling in line with weak spot markets sentiment.
Marketmen said regular supply and fall in off-take in physical markets, mainly influenced trading sentiments here in futures price of castorseed.
Fall in demand from exporters further pulled down the castorseed prices, they said.
India is the biggest exporter of castor oil in world trade in this commodity followed by China and Brazil.
At National Commodity and Derivatives Exchange, castorseed prices for the June contract slipped by Rs 50, or 1.45%, to Rs 3,405 per quintal with an open interest of 1,560 lots.
Most active near July contract fell by Rs 45, or 1.28%, to Rs 3,458 per quintal, clocking an open interest of 1,74,580 lots.
