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Sufficient supply along with limited demand pulled down castorseed price in spot market. Following the spot, profit booking at the higher level put futures price under pressure on Wednesday.
Castorseed futures traded lower on higher supply in major mandis as well as strong production estimates. Further, sluggish demand in the domestic market too weighed on castorseed prices.
About 20,000-22,000 bags arrived in Gujarat and prices declined ₹5 to ₹790-800 per 20 kg. Around 1,000-1,000 bags arrived in Saurashtra and price moved down by ₹5 to ₹750-760 per 20 kg. Castor oil traded flat on ₹810/10 kg. On the Rajkot Commodity Exchange (RCX) castor December contract lost ₹21 to ₹4,122 per quintal. RCX spot castor declined ₹25 to ₹3,925 per quintal.
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