Category Archives: Castor Prices

Castorseed down 1.3% on low export demand

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Castorseed prices dropped by Rs 54 to Rs 4,094 per quintal in futures trading on 19th May as speculators trimmed positions on low export demand amid mounting of stocks in domestic markets.

At the National Commodity and Derivatives Exchange, castorseed for delivery in August dropped by Rs 54, or 1.30%, to Rs 4,094 per quintal, with an open interest of 19,820 lots.

Most-active June contract dipped by Rs 43, or 1.09%, to Rs 3,918 per quintal, in an open interest of 1,81,220 lots.

Similarly, May contracts also fell by Rs 40, or 1.02%, to Rs 3,873 per quintal, having an open interest of 2,370 lots.

Marketmen said besides low export demand, ample supplies from growing regions following higher output hopes, mainly influenced the market sentiment.

More: http://www.business-standard.com/article/markets/castorseed-down-1-3-on-low-export-demand-114051900399_1.html

Profit booking crushes castor

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Castor futures declined on profit booking by traders though spot prices gained marginally on stockists’ demand. Traders said that castor futures market is in an unstable condition due to huge speculations. On the NCDEX, castor June contract was down ₹46 to ₹3,899. On the Rajkot Commodity Exchange, castor June decreased ₹50 to ₹3,899 per quintal. RCX spot castor was up ₹12.50 to ₹3,775. Castor oil lost ₹5 to ₹785/10 kg. About 85,000-90,000 bags of castorseed arrived in Gujarat and traded for ₹750-760 for 20 kg. Around 8,900-9,000 bags arrived in Saurashtra and price was quoted at ₹730-740. According to traders, this year crop size is expected lower and as a result demand from stockists is strong. Spot castor may improve more in coming days as arrivals move down gradually.

More: http://www.thehindubusinessline.com/markets/commodities/profit-booking-crushes-castor/article6033863.ece

Higher inflow crushes castor – April 9, 2014

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With arrival of castorseed in spot market topping over one lakh bags, the price of the oilseed plummeted in spot and futures markets.

According to traders, demand was very limited and price may go down further. Export demand was also weak in castor oil. On the Rajkot Commodity Exchange, castor June contracts were down by ₹119 at ₹3,992 a quintal. RCX spot castor decreased by ₹85 to ₹3,825. Castor oil was down by ₹15 to ₹800/10 kg. About 98,000-1 lakh bags of castor seed arrived in Gujarat for ₹750-760. Similarly, around 7,800-8,000 bags arrived in Saurashtra at ₹750-760 for a maund of 20 kg.

Source: http://www.thehindubusinessline.com/markets/commodities/higher-inflow-crushes-castor/article5892327.ece?ref=wl_markets

Castorseed futures price dips on increased selling – April 7, 2014

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Castorseed prices slipped by Rs 44 to Rs 4,113 per quintal in futures trade on the back of fall in overseas and domestic demand against rising stocks position.

Marketmen said increased selling by traders on existing higher levels mainly led the fall in prices.

Improvement in supply as well as selling on higher levels mainly created increased stocks position in the spotmarkets and pulled down the prices of castor seed.

Source: http://articles.economictimes.indiatimes.com/2014-04-07/news/48939470_1_castorseed-may-contract-dips

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Demand for meal lifts castor – March 26, 2014

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Castor futures moved up marginally on account of strong export demand for its meal in local mandis along with weak production estimates for the current year. However, spot traded weak.

Since Wednesday, most of the APMCs in Gujarat will be closed for a week. Arrival of castor also halved and will decrease further.

On the National Commodity and Derivatives Exchange (NCDEX), castor April contract increased ₹7 to ₹4,140 with an open interest of 155,800 lots. NCDEX May contract was up ₹9 to ₹4,208 a quintal with an open interest of 82,960 lots.

On Rajkot Commodity Exchange (RCX), castor for June gained ₹20 to ₹4,243. RCX spot castor declined ₹12 to ₹3,959.

Data compiled by Solvent Extractors Association showed that the exports of castor meal during February reported a strong gain of over 254 per cent to reach 0.39 lakh tonnes against 0.11 lakh tonnes of the previous year.

About 28,000-30,000 bags of castor arrived in Gujarat and prices stood at ₹770-790 for 20 kg. Around 900-1,000 bags arrived in Saurashtra for ₹745-780. Castor oil increased ₹5 to ₹835/10 kg.

Source: http://www.thehindubusinessline.com/markets/commodities/demand-for-meal-lifts-castor/article5835536.ece

Castorseed futures fall on weak domestic, global cues – 24 March, 2014

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Castorseed prices fell by 0.85 per cent to Rs 4,180 per quintal in future trade on the back of weak spot as well as overseas markets sentiment.

Marketmen said traders preferred to book profits on a weak spot market and overseas trend that mainly pulled down the prices in futures trading.

At the National Commodity and Derivatives Exchange, castorseed for March contract declined by Rs 36, or 0.85 per cent to Rs 4,180 per quintal, with an open interest of 1,66,850 lots.

Bargain Hunting Lifts Castorseed- 20 Mar, 2014

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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

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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.