Castor seed prices drifted lower by Rs 37 per quintal in futures trade today on offloading of positions by speculators amid a weak trend at the physical markets.
At the National Commodity and Derivative Exchange, castor seed delivery for the most-traded delivery in May declined by Rs 37, or 0.89 per cent, to Rs 4,114 per quintal, with an open interest of 66,770 lots.
Castor seed to be delivered in April also eased by Rs 31, or 0.75 per cent, to Rs 4,088 per quintal with the business turnover of 29,250 open lots.
Marketmen said the fall in castor seed prices in futures market was mostly due to reducing of bets by participants, triggered by a weak trend at the domestic spot market following muted demand from consuming industries.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.