Castor seed and oil have now firmly been established as products of expensiveness in the industrial market.On May 17,2011 prices of castor bold seed rose by Rs:35 to reach Rs:5175 per quintal from the previous day’s close while the castor oil also showed  a marginal rise.Regarding the future price contracts for the June delievery,the prices were oscillating and stood at Rs:4900 per quintal which was also a modest rise by Rs:7 from its previous close.

Castor oil and its related products are industrially expanding to satisfy the mass demands but a price regulation is mandatory. Experts claim that a high price volatility may shift the market to chemicals which prove to have substitution potential.Hence it needs a regulatory framework for sustainable usage of this eco-friendly material.

For reference:http://www.business-standard.com/india/news/groundnut-oil-strengthensrising-demand/135500/on