Castorseed hits lower circuit, plunge 4%

Castorseed prices tanked 3.9% to hit lower circuit at Rs 5,083 per quintal in futures trade today as participants off-loaded their positions at prevailing higher levels.

At the National Commodity and Derivatives Exchange counter, castorseed prices for the most-active January contracts tumbled by Rs.211, or 3.99%, to hit lower limit of Rs.5,083 per quintal, with an open interest of 2,34,120 lots.

Castorseed for delivery in February month also dropped by Rs 41, or 0.86% to Rs.4,746 per quintal, in an open interest of 1,06,230 lots.

Marketmen said off-loading of positions by speculators at current levels mainly dragged down castorseed prices at futures trade here.