Castorseed slumps on strong selling pressure

Castorseed prices slid by Rs 51 to Rs 3,572 per quintal in futures market today as traders off-loaded holdings in line with weak spot markets.

Marketmen said sluggish demand from consuming industries amid increased supply at physical markets led to the fall in future price of castorseed.

At the National Commodity and Derivatives Exchange, the June contract dropped by Rs 51, or 1.41% to Rs 3,572 per quintal, with an open interest of 2,690 lots.

The April contract slipped by Rs 38, or 1.08% to Rs 3,470 per quintal, for 12,540 lots.