Castorseed futures decline on selling pressure

NEW DELHI: Castorseed prices slided by Rs 70 to Rs 3,940 per quintal in future trade today on all round profit booking by traders following weak physical markets sentiment.

Marketmen said, apart from profit booking at higher levels, fall in demand and increased arrivals in spot markets mainly led the fall here in future price of castorseed.

Low demand from paint and lubrication industries and fall in export demand too influenced the sentiment, they said.

At the National Commodity and Derivative Exchange, castorseed for August dipped by Rs 70, or 1.75 per cent to Rs 3,940 per quintal in an open interest of 130 lots.

Current April contract weakened by Rs 48, or 1.33 per cent to Rs 3,549 per quintal in an open interest of 1,860 lots.

Near May contracts dropped by Rs 45, or 1.21 per cent to Rs 3,660 per quintal with open interest of 1,55,990 lots.