950817

Castorseed

declines

in India

BOMBAY: Castorseed September delivery shed three rupees per quintal to 1,045/1,046 as export demand in the spot market turned sluggish, dealers said.

"Trading volumes in September contract were thin because the delivery period is approaching," said one dealer. September delivery lost 8.50 rupees per quintal on Wednesday.

December delivery was quoted at 1,008/1,010 rupees per quintal. Groundnut oil lost four rupees per 10 kg to 419/420 on selling pressure following higher arrivals from south India.

Groundnut oil had lost six rupees per 10 kg on Wednesday. It had touched a record high of 432 on August 4 on an acute shortage of supplies.

Sentiment turned weak on market talk that about 8,000-10,000 tonnes of imported palm oil are due to arrive next week, one trader said.

Spot palm oil slipped by three rupees per 10 kg to 304.

The castor, oil and oilseeds markets are closed on Friday for a Hindu festival.-Reuter