Selling intensified in castorseed futures due to fresh arrivals in the major mandies of Gujarat along with strong production estimates for the current year. The NCDEX futures plunged by more than 1% today.
As per market sources, the new arrivals of around 1.20-1.30 lakh bags were reported in the major mandies of Gujarat with the spot prices of around Rs 3350-3400 per quintal , down Rs 80 per quintal in the last trading.
Consequently, the future prices of Castor seed NCDEX May Benchmark contract pared Rs 46 per quintal to trade at Rs 3524 per quintal today.
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