Castor Oil Exports to Rise 33% This Year

India’s castor oil exports are likely to increase and hit 570,000 tonnes this year due to an increasing demand from America, China and European Union. The rising demand could affect the availability in Indian market due to the shortage of Castor Oil Plantoutput.

Castor seed for delivery is currently trading at the rate of Rs. 3690/quintal. In the spot market the seed is selling at the rate of Rs. 3565/quintal in Gujarat.

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Global Castor Oil and Derivatives Market to Reach $1.81 Billion by 2020

Owing to the rapid growth of biodiesel, lubricants and cosmetics industries, the growth of castor oil and derivatives market is expected to reach $1.81 billion by 2020. A strong Castor oil and Castor oil derivativesshift of volatile crude oil prices towards the substitution of conventional fuels by biofuels has also a positive influence on the growth of castor oil market.

Castor wax industry is expected to reach the highest growth rate of CAGR of 5.8% from 2014 to 2020. Also, the growth of personal care industry, particularly in Asia Pacific and Latin America is expected to increase over the next 6 years.

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Castor Seed Price Weekly Report: October 27- 31, 2014

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 Date Price  per quintal
31 Oct 2014 4812.5
30 Oct 2014 4675
29 Oct 2014 4625
28 Oct 2014 4613

castor seed price weekly report

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Castor Seed Jan may See Buying at Rs 4,310-4,360: Kotak

Commenting on the technical outlook, Dharmesh Bhatia, associate VP-Research, Kotak Commodities Services said the following:
Castor Seed January prices are trading firm and has made a contract high of Rs 4,439, next level is at Rs 4,650. Unless price closes below Rs 4,110, buying is advisable at Rs 4,310-4,360, with stop loss of Rs4,225 and target of Rs 4,610.