Source: Business Standard Newspaper – 27 Aug, 2015
NCDEX and Castor Futures
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Category Archives: Castor Seed Futures
Castor perks up on Short Supply
Castor seed prices increased due to strong demand and restricted supply. Castor seed futures also gained on speculative buying by traders.
The price of castor seed in Gujarat increased by Rs. 5 to Rs. 780 – 790 per 20 kg. On the Rajkot Commodity Exchange (RCX), castor September futures was up Rs. 7 to Rs. 4,115 per quintal and RCX spot was traded up by Rs. 12.50 to Rs. 3,912.50.
Castor Seed Futures Edge Higher on Rising Demand
Castor seed futures edged higher on NCDEX after speculators enlarged their positions driven by increasing demand in the spot market.
The contract for August delivery was trading at Rs 3987.00/Quintal, while the contract for September delivery was trading at Rs 4052.00/quintal. The open interest of the September contract stood at 255210 lots on NCDEX.
Rajkot Castor Seed Futures Close- August 11
Castor seed future September contract eased due to lack of speculative buying interest.
Castor seeds ready price quoted at 3,800.00/quintal compared to the previous closing price of 3,837.50/quintal. Castor seed futures, in rupees per 100 kilograms, in the Rajkot market, according to Rajkot Community Exchange:
September Contract
Open 3,993.00
High 4,005.00
Low 3,987.00
Close 3,990.00
Previous close 3,998.00
Castor Seed Futures Trade Higher on Thin Supply
Castor seed futures traded higher on NCDEX due to thin supplies from major growing areas.
The contract for July delivery was trading at Rs. 3978/quintal, while the contract for August delivery was trading at Rs. 4066/quintal.
Castor Seed Futures Edge up on Rising Demand
Castor seed futures edged up marginally on NCDEX due to rise in demand from consuming industries.
The contract for July delivery was trading at Rs 3986.00/Quintal and the contract for August delivery was trading at Rs 4084.00/Quintal.
Castor Seed Futures Trade Higher on Rising Demand
Castor seed futures traded marginally higher on NCDEX due to rising demand from consuming industries in the spot market.
The contract for June delivery was trading at Rs. 3963.00 and that for July delivery was trading at 4095.00. The open interest of the contract for July delivery stood at 207290 lots on NCDEX.
Castor seed Price Increases on Supply Crunch
Castor seed price has increased due to increase in demand and short supply. The supply of castor seed has declined in the past one week. In Gujarat, castor seeds were priced at Rs. 795-805 per 20 kg. In Saurashtra, it was priced at Rs. 775-785 per 20 kg.
On the NCDEX and RCX, the castor seed futures declined while there was an increase in the castor spot prices on RCX.
Rajkot Castor Seeds Futures Open- Feb 05
Castor seed future March contract eased in the early trades due to lack of speculative buying.
Castor seed futures, in rupees per 100 kilograms, in the Rajkot market,
According to the Rajkot Commodity Exchange:
March Contract
Today’s open 3,998.00
At 1215 local time 3,991.00
Previous close 3,992.00
Gujarat Farmers’ Urge to Ban Castor Seed Futures Trading
Gujarat farmers have urged the commodity derivatives regulator the Forward Markets Commission (FMC) to ban futures trading in castor seed due to high volatility in the past few weeks.
Average castor seed price jumped 17.83% in October 2014 to 44,000 a tonne in Gujarat spot market, compared to 37,553 a tonne in November 2013, data compiled by the Solvent Extractors’ Association showed.
During the week to November 28, however, castor seed price declined 3.28 per cent to Rs 44,250 a tonne. Castor seed for delivery in April 2015 jumped 2.4 percent on 3rd December to trade at Rs 4,812 a quintal on the NCDEX.
Therefore, the farmers want to ban futures trading in castor seed in case excessive speculative activities are witnessed in this counter on commodity exchanges.