Castorseed prices dropped by Rs 183.50 to Rs 4,650 per quintal at the futures trading today following heavy selling by traders.
Market analysts said traders preferred to book profits amid subdued demand in the spot market. Also, weak conditions persisted in the physical markets due to heavy supply along with reduced offtake.
At the National Commodity and Derivatives Exchange, castorseed for delivery in May declined by Rs 183.50 or 3.8 per cent to Rs 4,650 per quintal with an open interest of 1,060 lots. Likewise, April contract tumbled by Rs 142.50 or 2.95 per cent to Rs 4,688 per quintal clocking an open interest of 5,650 lots.
Castorseed for delivery in March dropped by Rs 141 or 2.85 per cent to Rs 4,804 per quintal with a business volume of 7,170 lots.