Castor seed is a precious commodity as the demand in  local and  markets abroad continues to remain high.At the Rajkot Commodity Exchange, castor seed prices stood at Rs:4818 per quintal which was a gain of Rs:48 from the previous day’s close.The pricing trend was also found to be similar when the May delievery and June contracts increased by Rs:23.50 and Rs:49 to Rs:4891 and Rs:4944 per quintal respectively at the National Commodity and Derivatives Exchange.

The castor seed prices stagnate at an elevated since January 2011 but the demand never to be falling due to expansion in its industrial utilities.It is important to note that castor seed and oil have witnessed a steep volatility in the market prices in the recent past.

For reference:http://www.indiainfoline.com/Markets/News/Castor-gains/3700211053

Castor oil is valued in the industrial world for its flexible applications but the  end user industries in the castor oil value chain continue to remain concerned over its price volatility in the market.Castor seeds bold type showed a surge by Rs:25 to Rs:5325 from the previous days close of Rs:5300.This trend was  applicable to industrial grade castor oil as well with prices increased slightly from Rs:10,900 to Rs10,950.Castor seed futures for June also shows an hiked pricing trend.It is vital to note that the prices are in fact doubles in a relatively short span of 6-8 months from the previous year.

Experts point to an increased demand and limited supply from the  market as prime factors for this crisis in castor but it would most probably have a serious impact on the revenue generation and  export of castor oil from India as the  importers particularly from the West seem to expect a consistency in the prices for their long term castor trading with India.

For further reference:http://www.business-standard.com/india/news/refined-palmolein-easeslow-demand/130004/&tp=on