Castor Seed Futures Up by Rs 25 per Quintal

Castor seed prices advanced by Rs 25 to Rs 4,389 per quintal in futures trade on Friday after speculators accumulated huge positions, tracking a firm trend at the physical markets.castor-seeds_10421148_250x250

Besides, pick up in export demand also supported the upside in castor seed prices. At the National Commodity and Derivative Exchange, castor seed for delivery in June month rose by Rs 25 or 0.57 per cent to Rs 4,389 per quintal, having an open interest of 7,860 lots.

The most-traded July month contracts also inched up by Rs 2 or 0.05 per cent to Rs 4,362 per quintal, having an open interest of 90,980 lots.


Castor Oil Exports at 13 Months High in April

Castor seed’s market under pressure may get some support from the increased export of castor oil from the country as the export has been recorded at the upper level of about 13 months during April.

According to the SEA officials, during April, 55, 557 tonnes of castor oil has been exported from the country, which is the highest monthly export since March 2016.


Castor Seed Futures Gain on Strong Demand

Castor seed prices improved by Rs 41 to Rs 4,264 per quintal in futures trading following widening of positions by the speculators in line with robust spot and export demand.Castor-Oil-Seeds-Traders

At the National Commodity and Derivatives Exchange counter, castor seed delivery for immediate contract June moved up by Rs 41 or 0.97 per cent to Rs 4,264 per quintal, in an open interest of 28,540 lots.

Most active second contract July delivery also edged higher by Rs 35 or 0.81 per cent to Rs 4,344 per quintal, with an open interest of 95,050 lots.


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.


Lower Output Pushes Castor Prices Up 21% This Month

Prices of castor seed continue to increase due to lower production and expectation of good export demand for castor oil and meal in the coming months.Castor-Oil-Seeds2

Seed prices have already reached a two-year at NCDEX and physical markets. In the physical markets, seed prices have already risen 21.3 per cent during March itself.

Currently, about 90,000-100,000 bags (each 60 kg) of seed are coming to the markets, mainly in Gujarat and the price of the commodity is Rs 4,830 a quintal.


Adani Wilmar Looks To Break India’s High-End Castor Oil Derivatives Jinx

India, the market leader in production and supply of castor seed and castor oil may soon capture a major share in castor derivatives market with companies like Adani Wilmar and Royal Castor Products engaging in second- and third-generation castor seed and castor oil derivatives production and exports.castor-oil-800067

According to industry experts, high technology cost has been the major reason for India in not capturing a large share of the global derivatives market. In the derivatives segment, there is a huge potential for India and focusing more on marketing also could help India shine in castor derivatives market.


SEA Launches Pilot Project to Increase Castor seed Yield

Castor-Oil-Seeds2SEA has launched a pilot project in Gujarat to help farmers increase the productivity of castor seeds to 2,000 kg per hectare from the current average yield of 1,200-1,400 kg a hectare.

The model farm would be supervised by the agriculture scientists and progressive farmers. The beneficial results will motivate many farmers to replicate good practices demonstrated at the model farm and achieve higher yield.