The price of castor seed at NCDEX had been increasing constantly.
The castor seed was being sold at Rs. 4613 per quintal earlier in the week. At the end of the week the price shot upto Rs. 4812 per quintal.
||Price per quintal
|31 Oct 2014
|30 Oct 2014
|29 Oct 2014
|28 Oct 2014
Delayed monsoon and insufficient rainfall encourage the farmers to shift to castor seed from other crops. Sowing of castor is likely to increase during mid- August. Many of the groundnut farmers have preferred castor seed due to the fear of crop failure owing to insufficient rainfall and delayed onset of monsoon. Therefore the castor sowing area is expected to increase by 10- 15%, than the nominal figure. At present, the castor seed price range between Rs.805- 835 per 20kg, while the year before, it was ruling between Rs. 650- 750 per 20kg. According the Solvent Extract Association data, India’s export of castor oil during April to June 2014 has decreased by 6,529 tonnes, on comparison with the export during the same time in 2013.
…Or at least that’s what this interesting article from The Hindu newspaper suggests.
The author G Chandrasekhar is certainly one of the few journalists in India clued in to the castor industry for a long, long time. I have seen him share his rich perspectives at some of the key global castor congress seminars, held usually in Ahmedabad. So you could say that his suggestions do carry significant data and research backup.
This is in essence what he says:
“…export prices do not adequately reflect the bargaining strength a near-monopolist can demonstrate, either. The current export rates of around $1300 a tonne free-on-board have the potential to sharply move up to, say, $1,700-1,800 a tonne; and the overseas market can absorb it.”
Now, you might hold an opinion that prices should be as low as possible to spur demand for an important commodity such as castor. At the same time, one cannot deny the logic that India is squandering the opportunity to make a few more $ from its position of strength. It is not as if we are ripping off the rest of world. The rest of the world is making excellent profits from the derivatives they make and sell from castor oil, so we (and our farmers) might as well get some of those profits as well….what do you say?
Some interesting links
Building Energy Analytics
Some Innovative & Unique Solar Power
Global Castor Conference – 2014 is scheduled to be held on Saturday, 22nd February 2014 at Hotel Courtyard by Marriott, Ahmedabad, Gujarat,India. The Solvent Extractors Association of India ( SEA) is organizing this conference. The event is supported by International Castor Oil Association (ICOA), U.S.A.
This 12th International Conference will provide an unique opportunity for open discussions & exchange of views about the issues pertaining to Castor business, to find solutions to the problems faced by the manufacturers, importers & exporters, technologists, players from the commodity exchanges, brokers & dealers of
castor business all over the world.
The event will also feature a presentation on the findings of Castor Crop Survey-2013 conducted in key Castor growing States viz. Gujarat, Rajasthan & A. P. by the world renowned market survey agency, M/s AC Nielsen.
More from: http://www.seaofindia.com/images/67/Global%20Castor%20Conference%202014-%20First%20Announcement%20Cum%20Invitation.pdf
Some interesting links
Building Energy Analytics
Some Innovative & Unique Solar Power
This blog post briefs some of the highlights of the recently published Comprehensive Castor Oil Report by Castoroil.in.
The Comprehensive Castor Oil Report ( http://www.castoroil.in/reference/report/report.html)is the most detailed report on the castor oil and derivatives industry. Covering every critical aspect of the industry – from cultivation to oil production to the production of diverse oleochemical derivatives – the report has been used by the who’s-who of the global companies investing in castor oil.
The report comprises 255 pages and was last updated in August 2013. The latest update of the report provides more insights and inputs on this exciting industry. Download the free sample report here – http://bit.ly/HJhGKI
The following are the sections for which significant additions are provided in the report:
- Castor Oil and Derivatives Market – The latest updates for the demand supply data for India and worldwide are provided in this version.
- Castor Oil, Castor Seed Prices and Related Commercials – The most recently available data for these are provided.
- Prominent Castor Oil and Derivatives Producers – This section includes profiles and product info for the latest entrants in the markets focusing on producing innovative, high-value end products from castor oil
- Some of the Key Takeaways from the Report :
- The top producers of castor seeds include India, China and Brazil. India is the largest producer of castor seeds with about 80% share, followed by Brazil contributing about 10% and China contributing about 8%.
- The global market for generation II castor oil derivatives and generation III derivatives is estimated at about US$300 million and US$350 respectively.
- Global export of castor oil during 2012 -13 stood at 4,30,752 MT compared to 4,04,489 MT in FY 2011-12.
- Large importers of castor seeds include USA, Netherlands, France, Thailand and Japan. European Union imports over 1,00,000 tonnes of castor oil annually, and almost all its imports are from India.
Castoroil.in welcome the readers to read the sample copy of the report from here — http://bit.ly/HJhGKI and get benefited
India carries an agricultural pride by nature as a leading zone in the world for cultivation and production of castor seed and oil, industrially reputed commodities today. To sustain this position research on the oilseed crop is fundamental and is being performed in a consistent way throughout the country across various institutions.Recently TNAU, a premier agricultural institute in South India has been awarded the “Best Castor Centre Award,’ for 2011, by Indian Council for Agricultural Research, New Delhi along with a shield, certificate, a citation and Rs.5,000, presented by Dr K S Varaprasad, Project Director, Directorate of Oil Seeds Researech, Hyderabad at the All India Annual Research Workers Group Meet on Castor at Yercaud. To signify it was TNAU’ release of a variety of castor called YRCH 1 in 2009 from Tapioca and Castor Research Station (TCRS) whose field performance made it popular among TN farmers for widespread cutivation.
As demand for castor oil mounts up globally, promoting research activities will galvanize its scope of cultivation and boost up rural economy to a greater extent in the country.
For reference: http://ibnlive.in.com/generalnewsfeed/news/best-castor-centre-award-to-tnau-research-station/1003162.html
Castor oil as we know a reputed raw material for industrial chemicals is often cultivated and processed in fields and oil mills respectively with synthetic inputs to make it available in bulk with desired properties. However, such pretreatments are longer a valid aspect when oil with quality and sustainability is required for certain subset of applications as production of pure natural cosmetics and related skin care products. This conditional demand faced by Wala Heilmittel GmbH, a German firm to market its completely natural skin products based of cold pressed castor oil had made it to formulate an approach of synthetic components free, organic castor oil exchange with India, involving mutual benefits for growers, processors and consumers. Christine Ellinger, a scientific representative of the firm initiated her actions via contacts with an Indian NGO called Satvik which then functioned with team of eco-minded farmers in cultivation of crops. Her financial assistance to NGO’ advisory council and efforts of Institute of Market Ecology (IMO) certification for product quality successfully boosted up the cultivation of organic castor and the agenda of German firm reached up its peak with co-ordinated assistance from a like minded castor oil entrepreneur, Mr:Nanalal Satra in Gujarat whose dedicated processing facility for organic castor oil production yielded the German raw material of choice ultimately from India.
The face of organic oil cultivation did not wipe off with German initiatives in India but has steadily grown today to a level of 277 tons of castor beans on approximately 1,175 hectares of land with oil yields in excess to supply other prospective companies. The outcomes so far have been fruitful with social and environmental responsibilities and significantly created economic independence for farmers, especially those in Northern arid regions of Kutch who suffered a nightmare in the earthquakes of Gujarat in 2001.
For reference: http://www.wala.de/english/quality/cultivation-projects/organic-castor-oil-from-india/
The castor oil plant, which is used to make laxatives, now possibly holds the key to controlling the mosquito menace in a ‘green’ way.
A study conducted by the department of zoonosis at Haffkine Institute for Training, Research and Testing, India, has revealed that castor oil can be used to kill mosquito larvae.
In laboratory tests, the castor seed oil extract was able to kill 50% of the larvae in 24 hours.
“Among the various herbal plants that we tested, the oil extract from the seed of the castor plant showed the best results for larvicidal [killing larvae] activity as well as inhibiting growth of Aedes aegypti mosquito larvae,” said Dr Saroj Bapna, scientific officer of the department.
Read More: http://www.hindustantimes.com/India-news/Mumbai/Castor-oil-can-take-sting-out-of-mosquito-menace/Article1-715045.aspx
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 oil business is one of the powerful marks in the Indian export right from the days of past.Current estimates account for a foreign exchange of Rs:8000 million from an export of over 200,000 tonnes of castor oil for the nation but the trend is not a constant process when a sudden depression was noticed in the castor oil export from India in 2008.The prime reason was an unexpected notification from The Ministry of Commerce,India stating a ban on the export of castor oil and other oils derived from woody tress.It was reported that the files pertaining to the export castor oil were not processed with reference to ban and ultimately made a halt in the exchange of castor goods. The Government on the other hand declared that their decision was with the motto of welfare.It resulted in manufacturers and traders to remain displeased over the existence of prohibition on concerned commodities.
From a mass point of view, the authouritarian’ move may sound positive and optimistic but it does not seem to hold up its credit under all the the circumstances especially with cases like castor as the entire world depends on Indian raw material for generation of industrially potent chemicals.As the responsibilities the export and import partners carrying in their business deal are something immense,they should not be denied and taken as granted by the National Government in the implementation of their emergency policies.So it is on par vital that the Government must realize and understand the commitments of entrepreneurs,traders and business personals in their legal export activities and appropriate negotiations are to be compulsorily executed in advance so as to achieve a timely regulation in export and revenue generation without severe loss for both sides.It is not alone an issue of economics but words of promise and prestige that our exporters vow upon to loyal business colleagues abroad in trading. So circumstances such as this should not arise unless otherwise an extreme condition prevails.