Castorseed down 1.3% on low export demand

Castorseed prices dropped by Rs 54 to Rs 4,094 per quintal in futures trading on 19th May as speculators trimmed positions on low export demand amid mounting of stocks in domestic markets.

At the National Commodity and Derivatives Exchange, castorseed for delivery in August dropped by Rs 54, or 1.30%, to Rs 4,094 per quintal, with an open interest of 19,820 lots.

Most-active June contract dipped by Rs 43, or 1.09%, to Rs 3,918 per quintal, in an open interest of 1,81,220 lots.

Similarly, May contracts also fell by Rs 40, or 1.02%, to Rs 3,873 per quintal, having an open interest of 2,370 lots.

Marketmen said besides low export demand, ample supplies from growing regions following higher output hopes, mainly influenced the market sentiment.


Castor oil for natural health

Though we mainly know it as one of Edgar Cayce’s most famous remedies, castor oil has a long history of traditional medical use dating back to ancient Egypt. Derived from the castor bean, the oil was traditionally used internally as a laxative. However, now it is primarily used externally due to its potential toxicity.

A castor oil pack is placed on the skin to increase circulation and to promote elimination and healing of the tissues and organs underneath the skin. It is used to stimulate the liver, relieve pain, increase lymphatic circulation, reduce inflammation, and improve digestion.

Castor oil packs are a traditional holistic treatment for a range of conditions, such as: cholecystitis (inflammation of the gall bladder), poor eliminations, epilepsy, various liver conditions such as cirrhosis and torpid liver, scleroderma, headaches, appendicitis, arthritis, incoordination between assimilations and eliminations, colitis, intestinal disorders such as stricture and colon impaction, incoordination between nervous systems, neuritis, and toxemia.

Castor oil packs are made by soaking a piece of flannel in castor oil and placing it on the skin. The flannel is covered with a sheet of plastic, and then a hot water bottle is placed over the plastic to heat the pack.

A castor oil pack can be placed on the following body regions:

The right side of the abdomen to stimulate the liver; inflamed and swollen joints, bursitis, and muscle strains; the abdomen to relieve constipation and other digestive disorders; the lower abdomen in cases of menstrual irregularities and uterine and ovarian cysts.

Safety precautions: Castor oil should not be taken internally. It should not be applied to broken skin, or used during pregnancy, breastfeeding, or during menstrual flow.


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Profit booking crushes castor

Castor futures declined on profit booking by traders though spot prices gained marginally on stockists’ demand. Traders said that castor futures market is in an unstable condition due to huge speculations. On the NCDEX, castor June contract was down ₹46 to ₹3,899. On the Rajkot Commodity Exchange, castor June decreased ₹50 to ₹3,899 per quintal. RCX spot castor was up ₹12.50 to ₹3,775. Castor oil lost ₹5 to ₹785/10 kg. About 85,000-90,000 bags of castorseed arrived in Gujarat and traded for ₹750-760 for 20 kg. Around 8,900-9,000 bags arrived in Saurashtra and price was quoted at ₹730-740. According to traders, this year crop size is expected lower and as a result demand from stockists is strong. Spot castor may improve more in coming days as arrivals move down gradually.


Castorseed futures gain on low-level buying – April 30, 2014

Castorseed prices improved by Rs 37 to Rs 4,281 per quintal in futures trading on 30th April following low levels buying at prevailing lower levels.

Marketmen said fresh buying support after yesterday’s sell-off, mainly brought the prices in green zone.

At the National Commodity and Derivatives Exchange, castorseed prices for July contract rose by Rs 37, or 0.87 per cent, to Rs 4,281 per quintal, with an open interest of 78,120 lots.

Near-June contract advanced by Rs 34, or 0.82 per cent, to Rs 4,182 per quintal with an open interest of 96,930 lots.

Most active May contract also improved by Rs 33, or 0.81 per cent, to Rs 4,119 per quintal, showing an open interest of 1,13,680 lots.