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Castor futures fell over 2 per cent as traders booked profits. Prices on the spot market increased marginally as arrivals to most APMC yards slowed on account of Hanuman Jayanti .
On the Rajkot Commodity Exchange, castor June contract decreased by Rs 85 to Rs 4,988 from Rs 5,013 a quintal. RCX spot increased Rs 25 to Rs 4,827.50 a quintal.
On the National Commodity and Derivatives Exchange, castor April dropped Rs 129.50 to Rs 4,946 with an open interest of 960 lots. May contract was declined by Rs 113 or 2.23 per cent to Rs 4,960 a quintal, with an open interest of 7,520 lots.
About 12,000-13,000 bags arrived in Gujarat against 1.20 lakh bags in last week with prices at Rs 970-990 for 20 kg, while in Saurashtra, 5,000-6,000 bags arrived and sold for Rs 940-965.
Mr Rajubhai Pobaru, president, Rajkot Commodity Exchange (RCX) said: “The export demand is expected to start after mid-May, till then prices will continue to fall.” Castor prices tumbled by over 12 per cent as the arrivals have doubled in past ten days amid bleak demand. The arrival has increased from 60,000 bags ten days ago to 1.30 lakh bags recently. Prices have fallen from Rs 1,025-1,050 to Rs 920-930 per 20 kg recently.
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