MUMBAI, 4 Jul (Commoditiescontrol): Castor oil prices have extended gains in the last 5-6 trading sessions led by 21% increase in exports in June compared to the same period last year. According to industry experts, the rise in prices is attributed to good rainfall in North Gujarat, which has boosted farmers' sentiments. Castor oil prices in the spot market have increased by Rs 45-50 per 20 kg in just four days, reaching Rs 1,140-1,160 per 20 kg.
According to traders, the total arrival of castor oil in Gujarat was around 35,000 bags (1 bag = 35 kg), while in Rajasthan, it was around 10,000 bags. The total trade volume was around 48,000 bags. In the futures market, castor oil prices also saw an uptrend, with the July contract on NCDEX trading at Rs 5,840 per quintal, up by Rs 5, and the August contract trading at Rs 5,910 per quintal, also up by Rs 5.
The prices of castor oil in various markets were as follows: Jagrana Shipper's price was Rs 1,183-1,185 per 20 kg, NK's price was Rs 1,185-1,188 per 20 kg, and Kandla's price was Rs 1,178-1,192 per 20 kg. The delivery price of castor oil at Kandla was Rs 11,857-11,888 per 10 kg.
(By Commoditiescontrol Bureau; +91 98201 30172)
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