Comments
Castorseed futures fell as demand eased. Moreover, spot markets in Gujarat were closed for Janmashtami festival.
September contract of castor decreased by Rs 36 to Rs 4,980 a quintal on the National Commodity and Derivatives Exchange, with an open interest of 10,950 lots. October contract slid by Rs 21 to Rs 4,969, with an open interest of 12,850 lots.
September contract of castor declined by Rs 32 to Rs 4,933 a quintal (Rs 4,965). A new December contract of castorseed that began on Wednesday opened at Rs 4,756 and closed at Rs 4,740 a quintal.
Restricted buying by traders and exporters and rising kharif sowing resulted in castorseed futures sliding, market analysts said.
According to latest data released by the Ministry of Agriculture, area sown under castorseed has risen by almost 1.87 lakh hectares to 8.54 lakh hectares as on August 19 because of higher sowing in Gujarat and Rajasthan. Acreage in Rajasthan increased 10 per cent to 1.48 lakh hectares while in Gujarat it was up 50 per cent at 4.73 lakh hectares.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.