Castorseed futures decline on profit taking

Castorseed futures prices fell by Rs 55.50 to Rs 3,442 per quintal today on all round selling by traders at prevailing higher levels, guided by a weak spot market sentiment.  

Reduced offtake by industries along, with increased arrivals in spot markets, led to the fall here in futures price of castorseed. 

At the National Commodity and Derivatives Exchange counter, castorseed price for far February month contract tumbled by Rs 55.50 or 1.59 per cent to Rs 3,442 per quintal, with an open interest of 2,500 lots. 

Current December month contract went down by Rs 21, or 0.54 per cent to Rs 3,851 per quintal, clocking an open interest of 5,050 lots.

While most active January month contract dropped by Rs 20.50, or 0.56 per cent to Rs 3,623.50 per quintal, with an open interest of 5,480 lots.