Castorseed futures fall on weak spot market cues

Castorseed futures prices plummeted by Rs 43.50 to Rs 4,011 per quintal today, owing to traders selling their holdings, guided by weak spot markets cues.

Market analysts said increased supply in spot markets amid reduced offtake by industrial units, mainly attributed the fall in castorseed future prices.

At the National Commodity and Derivatives Exchange counter, castorseed price for current December month contract tumbled by Rs 43.50, or 1.07 per cent to Rs 4,011 per quintal, revealing an open interest of 3,610 lots.

Far March month contract declined by Rs 32, or 0.91 per cent to Rs 3,477 per quintal, depicting an open interest of 1,090 lots.

While price for delivery in January went down by Rs 17.50, or 0.46 per cent to Rs 3,780 per quintal, clocking an open interest of 7,760 lots.