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Castor markets witnessed a mixed trend as demand remained limited and because of a good monsoon. Market analysts said castorseed futures gave up gains made yesterday as kharif sowing acreage rose sharply even as demand from traders and exporters was restricted.
August contract of castorseeds gained Rs 14 at Rs 5,081 a quintal on the National Commodity and Derivatives Exchange, with an open interest of 11,400 lots. September contract increased by Rs 11 to Rs 5,095, with an open interest of 11,740 lots.
September contract of castorseeds shaved off Rs 3 at Rs 5,062 a quintal on Rajkot Commodity Exchange. Spot castor declined by Rs 95 to Rs 4,835 a quintal.
August contract of castor decreased by Rs 84 to Rs 4,970 a quintal on Ahmedabad Commodity Exchange, with an open interest of 355 lots, while September contract rose by Rs 23.50 to Rs 5,095, with an open interest of 139 lots.
While the 15,000-16,000 bags that arrived in Gujarat were quoted at Rs 950-975 for 20 kg, 1,800-1,900 bags arrived in Saurashtra and were quoted at Rs 940-975 for 20 kg.
According to latest data released by Solvent Extractors' Association of India, sowing acreage of castorseed rose by almost 62 per cent to 6.6 lakh hectares as on August 4.
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