Commodities

Poor demand crushes castor

Our Correspondent Rajkot | Updated on July 02, 2014

Weak demand at the higher level pulled down castorseed spot on Wednesday. Castorseed futures also declined as traders resorted to profit booking. However, castor oil traded higher on fresh export enquiries.

Traders said that in the past one week castorseed was mostly traded up on export demand. Moreover, stockists also bought fearing production could be hit by prolonged dry spell.

According to them, it may decrease further this week. On the NCDEX, castorseed July contract declined ₹91 to ₹4,342/quintal with an open interest of 1,31,230 lots.

On the Rajkot Commodity Exchange, spot castorseed was down ₹50 to ₹4,237.50. Castor oil was traded higher by ₹15 to ₹865/10 kg.

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Published on July 02, 2014
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