RAJKOT, JAN. 11: 

Higher arrivals and lower demand from industries, like paints and lubricants, and exporters dragged castor seed down on Wednesday. Spot demand has been low since new crop arrivals begun two weeks ago and this trend is likely to continue, said a Rajkot-based trader.

On NCEDX, Castor seed's January contract decreased by Rs 4.50 to Rs 4,085 a quintal with an open interest of 4,630 lots while the February contract was down Rs 18.50 to Rs 3,876 with an open interest of 5,020 lots.

On the Rajkot Commodity Exchange (RCX), castor seed's March contract declined to to Rs 3,689 a quintal (Rs 3,696), while spot castor dropped by Rs 25 to Rs 3,837.50 a quintal.

About 24,000-25,000 bags (20,000-21,000) of castor seed arrived in Gujarat and quoted Rs 10 down at Rs 760-768 for 20 kg.