Commodities

Profit booking crushes castor

Our Correspondent Rajkot | Updated on May 21, 2014

BL22_CASTOR





Castor futures declined on profit booking by traders though spot prices gained marginally on stockists’ demand. Traders said that castor futures market is in an unstable condition due to huge speculations. On the NCDEX, castor June contract was down ₹46 to ₹3,899. On the Rajkot Commodity Exchange, castor June decreased ₹50 to ₹3,899 per quintal. RCX spot castor was up ₹12.50 to ₹3,775. Castor oil lost ₹5 to ₹785/10 kg. About 85,000-90,000 bags of castorseed arrived in Gujarat and traded for ₹750-760 for 20 kg. Around 8,900-9,000 bags arrived in Saurashtra and price was quoted at ₹730-740. According to traders, this year crop size is expected lower and as a result demand from stockists is strong. Spot castor may improve more in coming days as arrivals move down gradually.

Published on May 21, 2014

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