Castor Seed Futures Recover on Short-Covering

Castor seed prices were trading higher by Rs 40 to Rs 4,268 per quintal in futures trade in the first week of June after traders covered-up their short positions at existing levels, driven by a recovery in the physical markets.Castor-Oil-Seeds2

At the National Commodity and Derivatives Exchange, castor seed for delivery in June rebounded by Rs 40, or 0.95 per cent, to Rs 4,268 per quintal, having an open interest of 47,890 lots.

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Undecylenic Acid Market to grow at over 5.8% CAGR by 2023

Global undecylenic market was worth over US$ 310 million in 2015 and is expected to reach more than US$ 520 million in 2023, growing at a CAGR of 5.8%.

Increasing pharmaceutical applications coupled with growing consumer awareness for biobased products is expected to drive the undecylenic acid market.Undecylenic_acid

In the castor oil market, India dominated the castor oil production and accounts for over 60% of the total volume with over 900 kilo tons of capacity. China and Brazil account close to 20% & 10% respectively of the total production volume.

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