Castor seed futures slip on sluggish demand

NEW DELHI: Castor seed futures traded lower by Rs 81 to Rs 4,340 per quintal in the national capital today amid a weak trend at spot markets due to slackened demand at prevailing levels.

At the National Commodity and Derivatives Exchange, castor seed prices for October contracts tumbled Rs 81, or 1.83 per cent to Rs 4,340 per quintal and open interest stood at 110 lots.

Castor seed for delivery in July contracts also plummeted by Rs 59, or 1.42 per cent to Rs 4,102 per quintal, with an open interest of 2,04,900 lots.

Delivery in current month lost Rs 56, or 1.39 per cent to Rs 3,980 per quintal, having an open interest of 12,430 lots.

Marketmen said a weak trend at the markets due to absence of buying support at prevailing levels against increased supplies in the market, mainly dragged down the castor seed prices at futures trade.