Castor seed prices drop in futures trade

NEW DELHI: Castor seed prices declined by Rs 98 to Rs 4,110 per quintal in the futures trading today following trimming of positions by traders amid weak cues from spot as well as overseas markets.

At the National Commodity and Derivatives Exchange, castor seed prices for February fell by Rs 98, or 2.33 per cent, to Rs 4,110 per quintal in an open interest of 1,08,610 lots.

Similarly, March contracts dipped by Rs 98, or 2.30 per cent, to Rs 4,156 per quintal in an open interest of 66,720 lots.

Marketmen said besides subdued trend on low domestic and export demand, increased supplies in the spot markets put pressure on castor seed prices at futures trade.