Ahmedabad, March 19 (Commoditiescontrol): Castor seed prices remained stable in today's major spot market, defying expectations of a decline despite high arrivals for the second consecutive day. Steady demand has offset the pressure of increased supply.
Farmers appear to be selling existing stock before the mandi closes next week. Arrivals in Gujarat alone reached 1,00,000 bags (1 bag = 35 kg). Castor seed prices held within the range of Rs 1155-1180 per 20 kg.
Millers has adjusted prices upward in response to the rally in future markets. The morning price of NK was Rs 1220, which closed at Rs 1225, the morning price of Jagana Shippers was Rs 1200, which closed at Rs 1205, and the morning price of Kandla was Rs 1185-1195, which closed at Rs 1190-1200 per 20 kg. Today, the morning price of Castor oil price for Kandla delivery was Rs 1210-1215, which closed at Rs 1218-1220 per 10 kg.
On the NCDEX, castor seed futures also saw gains, with the April contract up Rs 20 at Rs 5850 and the May contract up Rs 93 at Rs 5990 per quintal as of 4:55 PM.Set for Surprise March Decline.
(By Commoditiescontrol Bureau; +91-9820130172)
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