Castor seed futures fall on weak demand
06/05/2015 12:17
Castor seed futures showed a negative trend on the National Commodity & Derivatives Exchange Limited (NCDEX) as traders reduced their positions after fall in spot market demand. Trading sentiments weakened further due to selling pressure from bear operators at higher level. Besides, slackness in demand from paint and other consuming industries amid increased supply in physical markets also weighed on prices.
At the NCDEX, castor seed futures for May 2015 contract were trading at Rs. 3,768 per quintal tonnes, down by 0.4 per cent, after opening at Rs. 3,785 against the previous closing price of Rs. 3,783. It touched the intra-day low of Rs. 3,729 till the trading. (At 12.15 PM today).
Castor is a non-edible oilseed crop; basically a cash crop, with average 46 per cent oil recovery.
06/05/2015 12:17
Castor seed futures showed a negative trend on the National Commodity & Derivatives Exchange Limited (NCDEX) as traders reduced their positions after fall in spot market demand. Trading sentiments weakened further due to selling pressure from bear operators at higher level. Besides, slackness in demand from paint and other consuming industries amid increased supply in physical markets also weighed on prices.
At the NCDEX, castor seed futures for May 2015 contract were trading at Rs. 3,768 per quintal tonnes, down by 0.4 per cent, after opening at Rs. 3,785 against the previous closing price of Rs. 3,783. It touched the intra-day low of Rs. 3,729 till the trading. (At 12.15 PM today).
Castor is a non-edible oilseed crop; basically a cash crop, with average 46 per cent oil recovery.
