With arrival of castorseed in spot market topping over one lakh bags, the price of the oilseed plummeted in spot and futures markets.
According to traders, demand was very limited and price may go down further. Export demand was also weak in castor oil. On the Rajkot Commodity Exchange, castor June contracts were down by ₹119 at ₹3,992 a quintal. RCX spot castor decreased by ₹85 to ₹3,825. Castor oil was down by ₹15 to ₹800/10 kg. About 98,000-1 lakh bags of castor seed arrived in Gujarat for ₹750-760. Similarly, around 7,800-8,000 bags arrived in Saurashtra at ₹750-760 for a maund of 20 kg.