Castorseed falls 3% on selling pressure

Castorseed prices dropped by Rs 126.50 to Rs 4,050 per quintal in future trade today on selling by traders amid weak demand in spot markets.

Experts said heavy selling in the wake of increased supply and fall in demand at physical markets led to fall in prices.

At the National Commodity and Derivatives Exchange, castorseed price for current February month lost Rs 126.50, or 3.03%, to Rs 4,050 per quintal, clocking an open interest of 5,840 lots.

The most active March contract shed Rs 26 to Rs 3,874 per quintal, having an open interest of 11,870 lots.