Ahmedabad, 18 April (Commoditiescontrol): The downward price trend for castor seed in India has come to a halt as demand emerged at lower prices. After several days of decline, buying interest today prevented further drops in the state's castor seed market.
Traders attribute the stabilization to increased buying at the reduced price levels. Additionally, the healthy demand for castor oil downstream supports market prices. The focus now shifts to incoming castor seed supplies as a key factor influencing the market direction in the coming days.
According to traders, arrivals today included approximately 130,000 bags (1 bag = 35 kg) in Gujarat, 15,000 bags from Rajasthan, and 10,000 bags sold directly to mills, with an estimated arrival of around 155,000 bags. Castor seed prices ranged between Rs 1090-1115 per 20 kg.
Specific prices at major trading centres were as follows:
Jagana Shipper: Rs 1155 opening, Rs 1157 closing
N.K.: Rs 1160 opening, Rs 1165 closing
Kandla: Rs 1140-1145 opening, Rs 1142-1148 closing (per 20 kg)
Castor Oil (Kandla delivery, Reddy-Reddy): Rs 1168 opening, Rs 1170-1172 closing (per 10 kg)
On the NCDEX at 16:55, castor seed contracts showed mixed movements:
April contract declined by Rs 13 to Rs 5732 per quintal
May contract increased by Rs 8 to Rs 5810 per quintal
June contract rose by Rs 18 to Rs 5858 per quintal
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