Comments
Castorseed futures dropped by the maximum permitted level on the NCDEX on Wednesday as traders engaged in profit booking. According to market sources, castor prices were on the rise since last one week due to increasing demand. On the National Commodity and Derivatives Exchange (NCDEX), castorseed October contract was down 3.98 per cent to Rs 3,284 for 100 kg with an open interest of 53,270 lots. November series slipped by Rs 139 to Rs 3,358 with an open interest of 81,361 lots.
On the Rajkot Commodity Exchange (RCX), castor December contract declined Rs 108 to Rs 3,592 a quintal. RCX spot castor was down by Rs 17.50 at Rs 3,470 . About 8,000-9,000 bags of castorseed arrived in Gujarat and prices declined Rs 10 to Rs 680-695 for 20 kg. Around 2,500-2,600 bags arrived at Saurashtra at Rs 665-695. A Rajkot-based castor seed broker said, “Demand in spot has declined marginally since last few days. Moreover, expectation of good carryover stock is pressurising the price as last year production was very huge. ”
Comments
COMMENT NOW
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.