Agri-commodities: Castor seeds, cardamom fall

New Delhi: Castor seed prices dropped Rs 18 to Rs 4,141 per quintal in futures trade today due to profit-taking by participants amid a weak trend at the spot markets.

At the National Commodity and Derivative Exchange, castor seed to be delivered this month slipped by Rs 18, or 0.43 per cent, to Rs 4,141 per quintal with the open interest of 35,750 lots.

Likewise, the most-traded delivery in May declined by Rs 17, or 0.40 per cent, to Rs 4,196 per quintal with a business turnover of 39,300 open lots.

Marketmen attributed the fall in castor seed prices to profit-booking by participants at current levels coupled with a fall in demand from consuming industries.

Soyabean prices drifted lower by Rs 22 to Rs 3,857 per quintal in futures trade today as participants trimmed their positions, driven by muted overseas cues.

Marketmen said, cutting down of bets by the participants, tracking a weak trend overseas, led to the fall in soyabean prices at futures trade here.

At the National Commodity and Derivatives Exchange, soybean to be delivered in the current month slipped by Rs 22, or 0.57 per cent, to Rs 3,857 per quintal, having an open interest of 1,63,000 lots.

Also, May delivery moved down by Rs 20, or 0.51 per cent, to Rs 3,918 per quintal, with an open interest of 1,08,420 lots.

Cardamom prices drifted lower by 0.22 per cent to Rs 1,068 per kg in futures trade today as speculators trimmed positions, taking negative cues from spot market on subdued demand.

At the Multi Commodity Exchange, cardamom for delivery in April was trading lower by Rs 2.40, or 0.22 per cent, to Rs 1,068 per kg in business turnover of 47 lots.

Analysts said cutting down of positions by participants owing to slackened demand in the physical market against adequate stocks position on higher supplies from producing belts kept cardamom prices weak in futures trade.