Castorseed for July delivery was down by Rs 13 to Rs 3,410 a quintal on NCDEX (National Commodities and Derivatives Exchange Ltd), while the August contract fell by Rs 11 to Rs 3,473 a quintal on profit-booking.
It may witness further fall during the week.
Castorseed was in good demand at the futures market and the prices had increased in the last few days, leading to profit-booking by investors.
In the domestic market, the demand was up due to industrial demand. Spot prices have been increasing in the last 10 days as traders are building inventory on expectations of more demand.
On Wednesday, about 70,000-75,000 bags of castorseed arrived in Gujarat and the prices were at Rs 630-660 per 20 kg. About 6,500-7,000 bags arrived in Saurashtra and were sold between Rs 600 and Rs 645 per 20 kg.
On the Rajkot Commodity Exchange, castorseed September contract was flat at Rs 3,525 a quintal. RCX spot castorseed price moved up by Rs 75 to Rs 3,220 a quintal.