Castor seed futures regain on short covering

Castor seed prices recovered by Rs 21 to Rs 4,260 per quintal in futures trade on short-covering by participants at existing levels induced by encouraging physical cues.Castor-Oil-Seeds-Traders

At the National Commodity and Derivatives Exchange, castor seed delivery for August improved by Rs 21, or 0.50 per cent, to Rs 4,260 per quintal in a business turnover of 86,280 lots.


Castor seed futures remain higher by 1.89 pc

Castor seed prices spurted for the second straight session, adding 1.89 per cent to Rs 4,269 per quintal in futures trade on unabated accumulation of holdings by the investors, spurred by strong physical leads.castor-seeds_10421148_250x250

Market players said, investors were indulged in enlarging holdings, driven by upbeat physical markets sentiment, boosting the castor seed futures prices.


Uptick in demand lifts castor seed futures

Castor seed prices rose by 0.51 per cent to Rs 3,916 per quintal in futures market today as speculators raised their bets, taking positive cues from spot market on pick-up in demand.

At the National Commodity and Derivatives Exchange, castor seed for delivery in July was trading higher by Rs 20, or 0.51 per cent to Rs 3,916 per quintal with an open interest of 1,05,650 lots.

Castor seed up on positive spot cues

Castor seed prices were marked higher by Rs 10 to Rs 3,982 per quintal in futures trade as operators created fresh positions, driven by strong trends at the physical markets.

Marketmen attributed the rise in castor seed futures prices to building up of fresh positions by speculators, tracking a firm trend at the spot markets on the back of rising demand from paint, soap and other consuming industries.

Castor prices may see recovery on export demand

Castor seed prices, which had largely remained bullish last year since the commodity resumed trading at the exchange in January 2017, have been weakening since the beginning of this year. From the current low, market expects some recovery in the coming months due to export demand.

In January 2017, when castor started trading again on the exchanges after one year, prices were around Rs 3,800 per quintal. The opening price of the contract was Rs 3,851 per quintal on National Commodity and Derivatives Exchange and Rs 3,832 per quintal on Multi-Commodity Exchange.Castor-Oil-Seeds2

Due to lesser acreage, the production had come down last year. Lower remuneration due to subdued prices in the previous year and good monsoon had made farmers to shift to other crops like groundnut, mustard and soybean. The production came down to 1.06 million tonnes. Production, in fact, has been dropping for the previous 5 years from 2.2 million tonnes in 2011-12.


Castor seed futures recover 0.63% on spot demand

Castor seed prices recovered 0.63 per cent to Rs 4,441 per quintal in futures trading  on short covering by participants in line with strengthened spot market sentiment.Castor-Oil-Seeds-Traders

At the National Commodity and Derivative Exchange, castor seed delivery for February contract improved Rs 28 or 0.63 per cent to Rs 4,441 per quintal, with an open interest of 16,640 lots.


Castor seed prices weaken on subdued spot cues

Castor seed prices drifted Rs 86 lower to Rs 4,261 per quintal in futures trade castor-seeds_10421148_250x250due to cutting down of bets by speculators, tracking a subdued trend at the physical markets.

At the National Commodity and Derivative Exchange, castor seed for delivery in February fell Rs 86, or 1.98 per cent, to Rs 4,261 per quintal with an open interest of 50,940 lots.The delivery for January contracts also declined Rs 76, or 1.77 per cent, to Rs 4,215 per quintal, with an open interest of 27,470 lots.