Quintal = 100 Kg.
Castor Oil & Cake Prices
| Castor Oil | Castor Cake | |
| Closing Price (Rs / quintal ) | 8,700 | 835 |
| Previous Day Closing Price (Rs / quintal ) | – | – |
Castor Seed Futures
| Month | Price (Rs/ quintal) |
| March | 4183 |
| April | 4221 |
| May | 4290 |
| June | 4365 |
| July | 4452 |
Castor Oil & Cake Prices
| Castor Oil | Castor Cake | |
| Closing Price (Rs / quintal ) | 8,700 | 835 |
| Previous Day Closing Price (Rs / quintal ) | 8,700 | 825 |
Castor Seed Futures
| Month | Price (Rs/ quintal) |
| March | 4255 |
| April | 4304 |
| May | 4369 |
| June | 4449 |
| July | 4560 |
Castorseed prices tumbled by Rs 81 to Rs 4,522 per quintal in future trading on 11th March following selling by traders in line with weak spot and overseas markets sentiment.
Marketmen said increased supply and slackness in demand in physical markets mainly led to the fall in futures prices of castorseed.
Easing export on falling demand in overseas markets also influenced the market sentiment, they said.
At the National Commodity and Derivatives Exchange, castorseed prices for July contract drifted Rs 81, or 1.76 per cent, to Rs 4,522 per quintal, in an open interest of 4,600 lots.
March contract dipped by Rs 59, or 1.38 per cent, to Rs 4,217 per quintal, with an open interest of 32,720 lots.
Most active April contract fell by Rs 60, or 1.38 per cent, to Rs 4,286 per quintal, clocking an open interest of 1,87,950 lots.
Castorseed prices dropped by Rs 66 to Rs 4,360 per quintal in futures trade on 28th Feb on profit booking by traders at existing higher levels.
Marketmen said profit-booking by speculators amid a weakening spot market trend mainly influenced the sentiment.
At the National Commodity and Derivatives Exchange, castorseed prices for June contract dipped by Rs 66, or 1.49 per cent, to Rs 4,360 per quintal, with an open interest of 9,310 lots.
Most active March contract fell by Rs 46, or 1.10 per cent, to Rs 4,213 per quintal, having an open interest of 1,33,440 lots.
Castor market fundamentals are tightening with seed production falling and exports rising. India is the world’s largest producer and crusher of castorseed and also the largest exporter of castor oil, accounting for close to 90 per cent of world production and trade.
There are two sets of seed production data – one by the Agriculture Ministry and the other from crop survey sponsored by Solvent Extractors’ Association.
While there is no unanimity within the trade on castorseed production data, the trend is clear – seed production has continued to fall for the second consecutive year after rising to a record 2011-12.
Falling inventories
While seed production is falling, castor oil export has been rising steadily for the last four years. From 4 lakh tonnes (lt) in 2011-12, shipments increased to 4.3 lt in 2012-13 and further to 3.7 lt in the first nine months of fiscal 2013-14, with projected export for the whole year placed at 4.6 lt. Rising oil exports also imply that large inventory of seed that was built up in the last two years are being crushed to produce oil. So, inventories are falling.
At the recently-concluded Global Castor Conference 2014 in Ahmedabad, one message that stood out clearly was that the castor market fundamentals are tightening and thanks to improved global economic outlook, prices have the potential to increase sharply.
The emerging scenario will benefit castorseed growers who have been, in a sense, short-changed by speculative forces in physical and futures markets. Castorseed prices have hovered around ₹4,000-4,200 a quintal, far below the potential price that they can command given India’s dominant position in the world market.
According to Atul Chaturvedi, CEO, Adani Wilmar Ltd, India exported close to 5 lt of castor oil in 2013 and this year, prospects of a 5 per cent rise in shipments are high. China has emerged as a major buyer of Indian castor oil at 2.3 lt, followed by traditional destinations – Europe (1.3 lt) and US (45,000 tonnes), he pointed out.
Castor seed prices at India’s National Commodities and Derivative Exchange (NCDEX) was up by 1.86%. Castor Seed for September delivery is trading around Rs 3373-3470 per qtl levels.
Record production in India in 2012-’13 and rise in production in Brazil and China has impacted castor seed prices. Oil demand remains firm in spot markets has capped further fall in castor seed prices.
On the 5th of August, Castor seed rose to a high of 3470 Rs/qtl at 12.11 pm IST and is expected to trade positive in the near term . Support is at 3450, 3430 levels and resistance at 3516 & 3530.
Positive reports from Rajkot spot witnessed recovery in castor seed future prices. NCDEX expects castor seed to trade with bullish bias.
Source: NCDEX
Castorseeds bold and castor oil commercial prices recovered in an otherwise lacklustre oils and oilseeds Vashi Wholesale market on renewed demand from shippers and soap industries.
The Castorseeds futures market rates were unavailable.In the non-edible section, castorseeds bold climbed by Rs 25 per 100kg to Rs 3,475 from Monday’s closing level of Rs 3,450 and castor oil commercial moved up by Rs 5 per 10kg to Rs 725 as compared to Rs 720 yesterday. However, linseeds oil closed unchanged at Rs 730 per 10kg.
More – http://articles.economictimes.indiatimes.com/2013-07-02/news/40329112_1_shippers-and-soap-industries-castorseeds-groundnut-oil
In the current day world, as fossil fuel demands continue to peak in a regular way, people look for alternate options especially the renewable oils which has a great tendency to produce a positive impact in the transportation sector. Although different vegetable oils are proven to act as sources for bio-fuel synthesis,several find constraints due to their extensive applications as vital ingredients in food. However, castor oil being under the non-edible oil class, turns to be a gifted candidate in this regard for ready exploitation to feed the locomotive engines.
Recently, an Argentinian oil company Oil Fox has come with an overseas initiative to produce biodiesel from castor and algae in Columbia. According to the spokesman from the producer firm, they plan to commission a production facility for 500 million litres on an annual basis with an investment over US$ 150 million. They further indicate that the plant will function in collaboration with two academic institutes and a local firm for technical and raw material procurement support respectively. It is interesting to see that the company concerned has already been in castor biodiesel production business in Argentina since 1999.
Castor plant seems to be an appropriate choice not only due to its non-edible nature but also for its inherent property to grow on marginal lands under rain-fed conditions.Hence it has a capability to create sustainable biodiesel operation right from farmers’ field to industrial and consumer environments. Also when the final product from castor oil is optimized well to suit the demands of engines, castor bean shall be a good oilseed crop for these natural wealth rich South American nations where cultivation of it is already in practice.
For reference: http://www.fis.com/fis/worldnews/worldnews.asp?monthyear=&day=11&id=56041&l=e&special=&ndb=1%20target=
Castor oil is an industrial commodity with India ranks first in terms of global production and export.As the oil is exclusively designed for production of a broad range of chemical derivatives and coupled with varying demands from local and international markets,its prices continue to remain in a high degree of fluctuation.In the recent past,prices of castor oil and seed saw a giant leap but brought some negative consequences indirectly from the buyers.Currently demands for the castor oil have been subdued inspite of a relatively good supply and make a stagnant position in consignment bookings which can be indicated by the castor seed prices for the June delievery which closed at Rs:4520 per quintal showing only a modest rise of Rs:29 from its previous close.
Extreme dynamics in market supply and price volatility are not positive signs of a stable economy as they do not ensure a stable partnership between business partners in a long run which is what is seen in castor trading currently to a mild extent.By introducing regulatory measures in supply chain,conditions hope to recover and display sustainable dominance from the Indian castor market.
Castor seed and oil have now firmly been established as products of expensiveness in the industrial market.On May 17,2011 prices of castor bold seed rose by Rs:35 to reach Rs:5175 per quintal from the previous day’s close while the castor oil also showed a marginal rise.Regarding the future price contracts for the June delievery,the prices were oscillating and stood at Rs:4900 per quintal which was also a modest rise by Rs:7 from its previous close.
Castor oil and its related products are industrially expanding to satisfy the mass demands but a price regulation is mandatory. Experts claim that a high price volatility may shift the market to chemicals which prove to have substitution potential.Hence it needs a regulatory framework for sustainable usage of this eco-friendly material.
For reference:http://www.business-standard.com/india/news/groundnut-oil-strengthensrising-demand/135500/on