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.

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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.

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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.

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Castor Seed Futures Slip Rs 115 per Quintal

Castor seed futures reduced by Rs. 115 per quintal at the beginning of this week. This was due to shortening of holdings by the traders in view of lower physical markets.Castor-Oil-Seeds-Traders

At the National Commodity and Derivatives Exchange platform, castor seed delivery for May plummeted by Rs 115, or 2.58 per cent, to Rs 4,350 per quintal, with an open interest of 27,400 lots.

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Castor Seed Futures down Rs 67 per Quintal

Castor seed prices decreased by Rs. 67 to Rs. 4319 per quintal in futures trade as participants liquidated holdings pressurized by weak domestic spot.Castor-Oil-Seeds-Traders

At the National Commodity and Derivative Exchange, castor seed for delivery this month contract dipped by Rs 67 or 1.53 per cent to Rs 4,319 per quintal, clocking an open interest of 42,530 lots.

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Castor Seed Futures Rise as Participants Create Position

Castor seed prices were trading higher by Rs 16 to Rs 4,738 per quintal in futures trading as participants created fresh positions amid a firm trend at the physical markets.castoroil-seed

At the National Commodity and Derivatives Exchange, castor seed for April delivery recovered by Rs 16, or 0.34 per cent, to Rs 4,738 per quintal, with an open interest of 1,370 lots.

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Castor Seed Futures: Price Action Requires Better Understanding of Market Dynamics

While commodity derivatives market regulator SEBI might have had concerns arising out of price volatility, it appears that the directive to the exchanges to impose a special cash margin of 20 per cent on the long side with effect from March 27 was issued without a clear understanding and appreciation of the current fundamentals and dynamics of the castor market.Castor-Oil-Seeds2

Following high production and burdensome inventory, for four years castor seed rates generally ruled at relatively low levels, falling to as low as ₹3,100 a quintal exactly a year ago.

Castor seed growers were the worst hit by low prices. This year they responded as they usually do and in the only way they know.

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Positive Outlook for Castor Seed

Castor seed futures on NCDEX ended high during the end of last week. Most active April contracts rallied higher to end the week at Rs. 4561 per quintal as against the previous week’s closing of Rs. 4280 per quintal.castoroil-seed

A fall in supply across major markets and rise in demand from domestic traders led to a rally in prices. Domestic crushers increased the purchase in anticipation of rise in export demand for castor oil and castor meal.

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Castorseed Prices Remain Firm on Constant Buying

Castorseed prices rose by Rs 35 to Rs 4,075 per quintal in futures trading last week as participants created positions amid a firm trend at the physical markets.castoroil-seed

Also, delivery in current month delivery went up by Rs 33, or 0.83 per cent, to Rs 4,026 per quintal, in an open interest of 10,940 lots.

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