Castorseed moves down on selling pressure

Castorseed prices softened by Rs 47.50 to Rs 4,100 per quintal in futures trade today on speculators selling, driven by lower spot markets sentiment.

Marketmen said reduced offtake by consuming industries such as paint and lubricant companies coupled with a fall in export demand, mainly put weight on castorseed future prices.

At the National Commodity and Derivatives Exchange, castorseed for January delivery shed Rs 47.50, or 1.15%, to Rs 4,100 per quintal, with an open interest of 4,790 lots.

The February contract eased by Rs 23.50, or 0.60%, to Rs 3,885 per quintal, with an open interest of 3,840 lots.