Comments
Castorseed futures traded lower on back of weak demand against higher supply in the spot market. Moreover, higher production estimates from the major producing belts too weighed on castorseed prices. Traders said that weak export demand for castor oil pulled down the price in spot. On the National Commodity and Derivatives Exchange, castor January contract decreased ₹36 to ₹3,659 per quintal, with an open interest of 175,190 lots. NCDEX castor February contract declined ₹31 to ₹3,692 per quintal, with an open interests of 215,120 lots. About 13,000-14,000 bags arrived in Gujarat and price was down by ₹5 to ₹705-715 per 20 kg. Nearly 850-900 bags arrived in Saurashtra and price fell by ₹5 to ₹675-685 per 20 kg. Castor oil lost ₹5 to ₹715/10 kg. On the Rajkot Commodity Exchange, (RCX) castor March contract was decreased ₹2 to ₹3,506 per 100 kg. RCX spot castor was traded down by ₹12.50 to ₹3,525 per quintal.
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.