Ahmedabad's castor seed market experienced a volatile trading session today. Sluggishness in the morning spot market, with prices down ₹5-10 per 20 kg, was sharply reversed in the afternoon. A surge in the futures market triggered aggressive buying by millers, boosting prices across the board.
Arrivals of castor seed in Gujarat totaled approximately 95,000 bags, the majority within the state itself. Average prices ranged from ₹1165-1180 per 20 kg.
The rise in the futures market led to an increase in prices by the millers. The morning price of Jagana Shippers was Rs 1210, which closed at Rs 1215; the morning price of NK was Rs 1240, which closed at Rs 1250; and the morning price for Kandla delivery was Rs 1200-1225, which closed at Rs 1205-1230 per 20 kg.
On NCDEX, the April contract of castor seed was up Rs 117 at Rs 6125, while the May contract was down Rs 135 at Rs 6100 per quintal at 16:57 IST. Market volatility is likely to continue, influenced by futures trends, new crop arrivals, and global demand.
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