Mumbai, June 21 (CommoditiesControl) – Castor prices in Gujarat remained stable today due to a balance between limited demand and arrivals. Traders observed no significant market fluctuations. However, potential delays in monsoon rains could encourage farmers to opt for castor cultivation if early sowing of other crops becomes unfeasible. The market outlook hinges on rainfall patterns and castor oil export trends.
Approximately 65,000 bags (1 bag = 35 kg) of castor arrived in the market, with 50,000 bags from Gujarat, 10,000 bags from Rajasthan, and 5,000 bags traded directly with mills. Castor prices held steady at Rs. 1110-1120 per 20 kg.
The futures market exhibited minimal movement, prompting millers to maintain current prices. Jagana Sheeperso, N.K., and Kandla prices remained unchanged at Rs. 1160, Rs. 1165, and Rs. 1155-1175 per 20 kg, respectively. Kandla delivery basis Reddy-Reddy castor oil prices also held steady at Rs. 1163-1165 per 10 kg.
On the National Commodity & Derivatives Exchange Limited (NCDEX), the July castor contract traded at Rs. 5770 (down Rs. 5), and the August contract traded at Rs. 5820 per quintal (down Rs. 8).
The castor market in Gujarat is currently experiencing a period of stability due to a balance between supply and demand. Market participants are closely monitoring monsoon progress and export activity for potential shifts in the supply-demand dynamics.
(By Commoditiescontrol Bureau; +91-9820130172)
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