Castorseed futures down on selling pressure

NEW DELHI: Castorseed prices fell by Rs 64 to Rs 3,782 per quintal in future trade today on the back of fresh selling by traders in line with weak physical markets sentiment.

Marketmen said besides profit booking after yesterday's rise, fall in demand and increased arrivals in spot markets mainly led the fall here in future price of castorseed.

Low demand from consuming industries such as paint and lubricant makers against weak export demand mainly pulled down the prices.

At the National Commodity and Derivative Exchange, castorseed prices for far October dropped by Rs 64, or 1.66 per cent, to Rs 3,782 per quintal, with an open interest of 3,670 lots.

Current month July's contract weakened by Rs 50, or 1.41 per cent, to Rs 3,492 per quintal, having an open interest of 3,660 lots.

Most active near August contract moved down by Rs 46, or 1.26 per cent, to Rs 3,598 per quintal, in an open interest of 2,24,840 lots.