Comments
Talk of the Forward Market Commission increasing margins for castor contracts led to profit booking on Wednesday, pulling down prices. Prices may fall further this week, said a broker here.
Castorseed’s September contract on the Rajkot Commodity Exchange declined by Rs 137 to Rs 4,432 a quintal, while spot rates fell by Rs 100 to Rs 4,025 a quintal. During the past two days, the September contract has lost Rs 264 a quintal. On the National Commodity and Derivatives Exchange, castor’s September contract was down Rs 179 to Rs 4,374 a quintal with an open interest of 88,990 lots, while October lost Rs 188 to Rs 4,536 a quintal with an open interest of 39,920 lots.
About 50,000-55,000 bags of castorseed arrived in Gujarat and quoted at Rs 790-810 for 20 kg. Around 2,000-2,500 bags arrived in Saurashtra and quoted at Rs 770-810 for 20 kg.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.