Castor oil business is one of the powerful marks in the Indian export right from the days of  past.Current estimates account for a foreign exchange of Rs:8000 million from an export of over 200,000 tonnes of castor oil for the nation but the trend is not a constant process when a sudden depression was noticed in the castor oil export from India in 2008.The prime reason was an unexpected notification from The Ministry of Commerce,India stating a ban on the export of castor oil and other oils derived from woody tress.It was reported that the files pertaining to the export castor oil were not processed with reference to ban and ultimately made a halt in the exchange of castor goods.  The Government on the other hand declared that their decision was with the motto of welfare.It resulted in  manufacturers and traders to remain displeased over the existence of prohibition on concerned commodities.

From a mass point of view, the authouritarian’ move may sound positive and optimistic but it does not seem to hold up its credit under all the the circumstances especially with cases like castor as the entire world depends on Indian raw material for generation of industrially potent chemicals.As the responsibilities the export and import partners carrying in their business deal are something immense,they should not be denied and taken as granted by the National Government in the implementation of their emergency policies.So it is on par vital that the Government must realize and understand the commitments of entrepreneurs,traders and business personals in their legal export activities and appropriate negotiations are to be compulsorily executed in advance so as to achieve a timely regulation in export and revenue generation without severe loss for both sides.It is not alone an issue of economics but words of promise and prestige that our exporters vow upon to loyal business colleagues abroad in trading. So circumstances such as this should not arise unless otherwise an extreme condition prevails.

For reference:http://www.thehindubusinessline.com/todays-paper/article1619902.ece

Industrial ventures and merges are in progression in castor oil business currently. As the prices and supply demand continue to surge in this oil sector,bulk manufacturers have obviously realized that it is the collaboration as a strategic tool to cope up with this dynamic trend for a successful run in production of castor oil.

Two Indian castor oil giants namely Adani Wilmar and NK Industries  from the Gujarat state have entered into an agreement for joint venture-ship in production of castor oil.As per the press release from the concerned sources,the unit functions under the name AWN Agro Ltd and commences its operation from May.The industrial partners also stated that their production capacity is 3000tonnes oil per day from the current production infrastructures.However no clear information has been presented regarding financial status of the new facility as the managing director of Adani Wilmar,Mr:Pranav Adani claimed that it is quite early to declare fact sheets. The joint proposal was even appreciated by Mr:Vittal Udeshi,Chairman of Jayant Agro Organics Ltd over the business expansion.

It is interesting to watch the business proceedings and the shifts with respect to the availability of raw materials.It seems to be condition tolerated by firms who are well rooted in their respective ventures but is a matter of concern for  new entries to achieve a sustainable stand.

For reference: http://m.economictimes.com/PDAET/articleshow/8062780.cms