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Deficient rainfall in main production centres and better demand from stockists lifted spot castorseed prices a little, traders said. However, castorseed futures declined as investors booked profits.
The July contract for castor on the National Commodity and Derivatives Exchange (NCDEX) declined by Rs 54 to Rs 4,646 a quintal with an open interest of 2,760 lots. The August contract decreased by Rs 37 to Rs 4,723 with an open interest of 7,660 lots.
On Rajkot Commodity Exchange, the September contract for dropped by Rs 17 to Rs 4,657 a quintal. Spot castor, however, increased by Rs 5 to Rs 4,502.50 a quintal.
The July contract for castor on ACE dropped Rs 58.50 to Rs 4,643.50 from Rs 4,702 a quintal. Spot price was up Rs 20 to Rs 4,567.50.
The 40,000-45,000 bags that arrived in Gujarat ex Saurashtra fetched Rs 875-905 for a maund of 20 kg. In Saurashtra, 2,200-2,300 bags arrived and sold at Rs 840-890 for 20 kg.
Prices may rise further if rainfall continues to be deficient, said traders.
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