The drop in castor seed prices still continues to make news in blog following the previous blog entry. Poor export enquiries is seen as the reason for the decline in future of castor seed in the oil and oilseeds market. Though castor seed price is on the decline, castor oil commercial and linseed oil traded stable in even in the absence of market moving factors.
Castorseed price declined Rs. 20 per tonne to Rs. 4375. Refined palmolein moved down slightly to Rs. 585. Groundnut oil held steady at Rs. 760 for 10 kg. Castorseed bold, castor oil commercial and linseed oil ended unchanged at Rs. 5,300, Rs. 1,090 and Rs. 710 respectively.
At the National Commodity and Derivatives Exchange, castorseed price for the month of February dropped down by Rs. 83 to Rs.4,545 per quintal, with an open interest of 7,370 lots. Near March-month delivery contract also fell by Rs 70, or 1.61 percent, to Rs 4,277 per quintal, with an open interest of 5,770 lots.