Castor seed futures decline by Rs 55 per quintal

Castor seed prices were down by Rs 55 to Rs 4,092 per quintal in futures trade today as traders offloaded holdings, triggered by a weak trend at the spot market.

At the National Commodity and Derivative Exchange, castor seed for May delivery declined by Rs 55, or 1.33 per cent, to Rs 4,092 per quintal with an open interest of 77,650 lots.

Also, contracts for delivery this month slipped by Rs 53, or 1.28 per cent, to Rs 4,080 per quintal with a business turnover of 6,670 open lots.

Marketmen said offloading of bets by participants in line with weakness in spot markets due the ample stocks on constant arrivals and low demand from consuming industries, led to the fall in castor seed prices in futures market here.