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Castorseed futures decreased some 3 per cent as traders reduced their position on the back of weak spot demand. With this, weak castor oil export also dragged prices in the last couple of sessions. Traders said that weak trend in spot markets on low demand from consuming industries and weak overseas cues weighed on the futures.
On the NCDEX, castor July contracts declined by ₹127 to ₹4,106 a quintal. On the Rajkot Commodity Exchange, castorseed September contract lost ₹122 at ₹4,279. RCX spot castorseed was down ₹12.50 to ₹4,100.
Castor oil slipped by ₹10 to ₹840/10 kg. About 28,000-30,000 bags of castor seed arrived in Gujarat and went for ₹815-825 for 20 kg and around 1,700-1,800 bags arrived in Saurashtra and traded for ₹795-805.
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