Recovery in the kharif and weak export demand of castor seeds seems to push down castor seed prices in the near future term. The solvent extractors’ association has reported a 4% decrease, in the overall export of oilmeals during July 2014, when compared with the previous year’s report.
The NCDEX Castor seed September futures decline 0.07% to close at Rs. 4213 per quintal. The decline of NCDEX futures on open interest of 0.07% seems to profit the traders.