Bargain Hunting Lifts Castorseed- 20 Mar, 2014

Posted on March 21, 2014 by admin

Following increased demand at the lower level, castorseed futures moved up on Wednesday. According to market sources, expectation of demand in castor oil also supported the rise . Castorseed spot prices, however, declined on higher arrivals.

On the Rajkot Commodity Exchange, castorseed June contracts were up ₹28 at ₹4,313 a quintal. RCX spot castorseed decreased by ₹55 to ₹3,945 .

On the National Commodity and Derivatives Exchange, castorseed April contracts gained ₹19 at ₹4,240 with an open interest of 182,060 lots. NCDEX May contracts improved by ₹14 to ₹4,304 with an open interest of 62,370 lots.

A broker said that futures gained as prices dropped the previous day and at this level, there was some buying interest among traders on expectation of good demand in castor oil in coming days.

However, as arrival improved in the last few days, spot castorseed was under pressure. Castorseed arrival rose from 15,000-17,000 bags to 45,000-48,000 bags in Gujarat and prices declined by ₹10 to ₹790-800. About 3,500-3,600 bags arrived in Saurashtra and price declined by ₹15 to ₹750-775 for amaund of 20 kg. Castor oil remained steady at ₹835/10 kg.

Castor seeds and Castor Oils Drop on Reduced Demand , March 11th 2014

Posted on March 13, 2014 by admin

Castorseeds bold and castor oil commercial dropped in an otherwise lack lustre Vashi oils and oilseeds wholesale market due to reduced demand from shippers and soap industries.

Meanwhile, groundnutoil, refined palmolein and linseed oil all held steady in the absence of any large-scale buying activity.

In the non-edible segment, castor seeds bold dipped by Rs 65 per 100kg to Rs 4,025 from last Saturday’s closing level of Rs 4,090 and castoroil commercial declined by Rs 13 per 10kg to Rs 835 from Rs 848.

However, groundnut oil, refined palmolein and linseed oil all closed unchanged at Rs 760, Rs 640 and Rs 850 per 10 kg, respectively.

Castor seed among top-traded counters on NCDEX

Posted on March 8, 2014 by admin

With a crop size of just Rs 6,000 crore, castor seed is among the most traded commodities on India’s largest farm futurestrading platform, the National Commodity & Derivatives Exchange (NCDEX).

Castor seed’s monthly turnover on the NCDEX is double the crop size due to high volatility and rising prices. There has been a spurt in trading interest over the last three months and in two of them it has been the most traded commodity on the bourse.

Guar used to be most traded commodity on the NCDEX but after curbs on excessive speculation, the counter lost sheen. Over the last year refined soya oil has been the most traded but in December-January castor seed provided over 20 per cent of the exchange’s volume. In February it fell to 15 per cent.
Data collated by the Forward Markets Commission (FMC), the commodity market regulator, showed castor seed contributed 27 per cent of the NCDEX turnover at Rs 104,549.87 crore in December 2013. “Castor seed is one of the more liquid contracts on the exchange. The increased turnover over the past three months reflects the underlying fundamentals.

Source: http://www.business-standard.com/article/markets/castor-seed-among-top-traded-counters-on-ncdex-114030800393_1.html

Castor growing farmers demand minimum support price castor seed at ₹70,000/tonne (around US$ 1130 /ton)

Posted on February 14, 2014 by admin

Amid lower castor prices, Gujarat wing of Bharatiya Kisan Sangh (BKS) – a farmers’ body has demanded fixation of minimum support price (MSP) for castor at ₹70,000 (USD 1130/ton) a tonne.

According to farmers, prices have tumbled to lower levels that are not remunerative for growers.

“MNCs and their Indian agents to fulfil their export obligation are forcing Indian castor farmers to sell their crop at non-remunerative prices of ₹41,000-44,000 PMT () (whereas input cost stands at ₹60,000-70,000 PMT(US$ 970-1130/PMT) ),” BKS stated in a statement.

The farmers’ body has appealed to the Central Government to announce minimum support price of ₹70,000 a tonne for Castor Seed and minimum export value of $2,000 PMT for castor oil.

Further, BKS has also urged the commodity exchanges and the commodities market regulator – Forward Market Commission (FMC) to impose additional cash margin on the sell side to safeguard farmers from falling prices of castor seed.

Source:http://www.thehindubusinessline.com/economy/castor-growing-farmers-demand-minimum-support-price-castor-seed-at-70000tonne/article5677745.ece

Castor seed Prices Could Decline due to Selling Pressure from Bear Operators – February, 2014

Posted on February 10, 2014 by admin

According to Reuters, castor seed future March contract will decline owing to selling pressure from bear operators.

As of February 7th 2014, on the Rajkot Commodity Exchange castor seeds ready price are quoted at ₹3,882.50 a quintal (₹ 38.9/kg or USD 625/ton)

On the NCDX, castor seeds with a expiry date of March 20, 2014 as of February 10th is being traded at ₹ 4138 a quintal (US$ 665/ton), the previous close was at ₹4077 a quintal (US$ 655/ton)

Studies indicate that the castor oil prices as of February 7, 2014 in Rotterdam is about US$1700/ton (Source: oilworld.ru)

As per the solvent extractors unit of India, castor oil is being exported at ₹830 for 10 kg (US$ 1337/ton). As of January 2014, the castor oil prices have risen by Rs 50 to Rs 9350-9450 per quintal(US$ 1500 – 1521/ton) on increased offtake by consuming industries (Source: Business Standard)

As of February 10th 2014, the castor deoiled cake is ₹4300/ton (US$69/ton)

Castor-Oil Stocks Seen Declining 16% Amid Reduced Indian Supply

Posted on December 9, 2013 by admin

Stockpiles of castor oil, used as a laxative and a lubricant in race-car engines, are set to drop 16 percent by the end of September as lower supply from India forces demand rationing, Oil World said.

Global production will slide to a four-year low of 624,000 metric tons in the 2013-14 season through Sept. 30 from 648,000 tons a year earlier, the Hamburg-based oilseed researcher wrote in a report today. Ending inventories will fall to 97,000 tons from 116,000 tons, it showed.

India grows more than three-quarters of the world’s castor seed, and farmers in the country were discouraged from sowing after a record 2011-12 crop pushed down prices, Oil World said in May. China is the biggest importer of castor oil, followed by the European Union and the U.S.

“For the supplies in 2013-14, it will be decisive to what extent the sharply lower plantings in India will be offset by a recovery of yields,” Oil World said. “We assume a setback in Indian production and exports of castor oil, necessitating also some rationing of import demand.”

Read the entire story from: http://www.bloomberg.com/news/2013-12-03/castor-oil-stocks-seen-declining-16-amid-reduced-indian-supply.html

Get to Know the Latest in the Castor Industry at ICOA 2014

Posted on November 20, 2013 by admin

The 2014 International Castor Oil Association General Meeting will be held on May 20-22 2014 at the Vienna Marriott in Vienna. Network with global leaders in the castor trade and find out the latest trends in the castor industry at ICOA 2014.

Book early as there is limited availability at our special rate of €199. Reservations can be made for the special rate by clicking the following link: http://bit.ly/19FoTlO

Radici Conforms to European Environmental Benchmarks

Posted on November 19, 2013 by admin

Radici Chimica SpA, which makes ‘Radipol’ polyamide 6,6 that is used in the textile industry for the extrusion of nylon yarns has become the first chemical company in Europe to obtain product and environmental footprint certificates in line with European Commission LCA-based requirements. Radici received the two certificates OEF (Organisation Environmental Footprint) and PEF(Product Environmental Footprint)

OEF – issued for all aspects of the production plant; PEF – issued for PA6.6, HMDA, adipic acid, nitric acid, MAB, diamine heads and tails, and CO2

Some interesting links

Building Energy Analytics

Some Innovative & Unique Solar Power

Global Castor Conference – February 2014, Gujarat, India

Posted on November 11, 2013 by admin

Global Castor Conference – 2014 is scheduled to be held on Saturday, 22nd February 2014 at Hotel Courtyard by Marriott, Ahmedabad, Gujarat,India. The Solvent Extractors Association of India ( SEA) is organizing this conference. The event is supported by International Castor Oil Association (ICOA), U.S.A.

This 12th International Conference will provide an unique opportunity for open discussions & exchange of views about the issues pertaining to Castor business, to find solutions to the problems faced by the manufacturers, importers & exporters, technologists, players from the commodity exchanges, brokers & dealers of
castor business all over the world.

The event will also feature a presentation on the findings of Castor Crop Survey-2013 conducted in key Castor growing States viz. Gujarat, Rajasthan & A. P. by the world renowned market survey agency, M/s AC Nielsen.

Some interesting links

Building Energy Analytics

Some Innovative & Unique Solar Power

Download Free Sample Report on Castor Plant, Castor Oil and Castor Oil Market

Posted on November 6, 2013 by admin

Hello Readers,

This blog post briefs some of the highlights of the recently published Comprehensive Castor Oil Report by Castoroil.in.

The Comprehensive Castor Oil Report ( http://www.castoroil.in/reference/report/report.html)is the most detailed report on the castor oil and derivatives industry. Covering every critical aspect of the industry – from cultivation to oil production to the production of diverse oleochemical derivatives – the report has been used by the who’s-who of the global companies investing in castor oil.

The report comprises 255 pages and was last updated in August 2013. The latest update of the report provides more insights and inputs on this exciting industry. Download the free sample report here – http://bit.ly/HJhGKI

The following are the sections for which significant additions are provided in the report:

Castor Oil and Derivatives Market – The latest updates for the demand supply data for India and worldwide are provided in this version.
Castor Oil, Castor Seed Prices and Related Commercials – The most recently available data for these are provided.
Prominent Castor Oil and Derivatives Producers – This section includes profiles and product info for the latest entrants in the markets focusing on producing innovative, high-value end products from castor oil
Some of the Key Takeaways from the Report :

The top producers of castor seeds include India, China and Brazil. India is the largest producer of castor seeds with about 80% share, followed by Brazil contributing about 10% and China contributing about 8%.
The global market for generation II castor oil derivatives and generation III derivatives is estimated at about US$300 million and US$350 respectively.
Global export of castor oil during 2012 -13 stood at 4,30,752 MT compared to 4,04,489 MT in FY 2011-12.
Large importers of castor seeds include USA, Netherlands, France, Thailand and Japan. European Union imports over 1,00,000 tonnes of castor oil annually, and almost all its imports are from India.

Castoroil.in welcome the readers to read the sample copy of the report from here — http://bit.ly/HJhGKI and get benefited

CastorOil Blog

Castor Oil Industry Reference & Resources – CastorOil.in

Category Archives: Castor Oil – Market