Castor Seed Futures Ease on Low Spot Demand

Castor seed prices softened by Rs 21 to Rs 4,615 per quintal in futures trading today on trimming of bets by participants taking weak cues from the spot markets on low demand.Castor-Oil-Seeds2

At the National Commodity and Derivatives Exchange, the contract of castor seed for delivery in October was trading lower by Rs 21, or 0.45 per cent, to Rs 4,615 per quintal, clocking an open interest of 42,500 lots.

The delivery for November contract also eased by Rs 20, or 0.42 per cent, to Rs 4,715 per quintal, depicting an open interest of 74,120 lots.

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Castor Seed Futures Gain, Helped by Spot Cues

Castor seed prices firmed up by Rs 45 to Rs 4,634 per quintal in futures trade as traders were upbeat about spot market cues.castor-seeds_10421148_250x250

At the National Commodity and Derivative Exchange counter, castor seed delivery for October contract rose by Rs 45, or 0.98 per cent, to Rs 4,634 per quintal, with an open interest of 48,610 lots.

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Castor seed futures gain on spot demand

Castor seed registered a rise of Rs 20 to Rs 4,741 per quintal in its prices at futures trade today as operators raised their bets supported by strong industrial demand in the spot markets.Castor-Oil-Seeds-Traders

At the National Commodity and Derivative Exchange, castor seed for the November delivery contracts advanced by Rs 20 or 0.42 per cent to Rs 4,741 per quintal, in an open interest of 37,410 lots.

The most-traded delivery in October too was trading higher by Rs 17 or 0.37 per cent to Rs 4,657 per quintal, depicting an open interest of 82,770 lots.

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Castor seed futures drop by Rs 15 per quintal

Castor seed prices drifted down by Rs 15 to Rs 4,727 per quintal in futures trading as participants cut down their positions in line with muted demand in spot markets.castor-seeds_10421148_250x250

At the National Commodity and Derivative Exchange platform, castor seed for delivery in November contracts slipped by Rs 15 or 0.32 per cent to Rs 4,727 per quintal, with an open interest of 31,860 lots.

The most-traded delivery in October contracts also eased by Rs 13 or 0.28 per cent to Rs 4,637 per quintal, in an open interest of 86,640 lots.

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Castor seed futures recover on short covering

Castorseed prices recovered by Rs 23 to Rs 4,554 per quintal in futures trade on the back of covering-up of short positions at existing levels by speculators amid a rebound at physical markets. Castor-Oil-Seeds-Traders

At the National Commodity and Derivative Exchange, castor seed for delivery this month improved by Rs 23 or 0.51 per cent to Rs 4,554 per quintal, with an open interest of 5410 lots. 

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Global Castor Oil Derivatives Market Report 2016 by Industry Size, Share & Key Drivers 2024

The global castor oil derivatives market is expected to witness a lucrative growth during the period 2016-2024. Factors such as growing demand from the end-user industries such as cosmetics, lubricants, and pharmaceuticals and the growing demand for the products that are biodegradable and sustainable, owing to the reduced petrochemicals dependence are expected to drive this growth.

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The region that dominated the castor oil derivatives market is Asia Pacific. The dominance in the global castor oil derivatives market is going to be continued in the coming years. The emerging nation, India accounted for the major production of castor oil derivatives globally. India is followed by other developing nations such as Brazil and China.

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Castor Seed Futures Weaken on Low Spot Demand

Castor seed prices edged lower by Rs 9 to Rs 4,814 per quintal in futures trade as traders indulged in slashing exposure largely in line with weak physical markets.castor-seeds_10421148_250x250

At the National Commodity and Derivative Exchange, castor seed for most-active October month contract was trading lower by Rs 9 or 0.19 per cent to Rs 4,814 per quintal, clocking a business turnover of 99,570 open lots.

The November contract also dropped by Rs 7 or 0.14 per cent to Rs 4,909 per quintal, revealing an open interest of 16,470 lots.

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