Ahmedabad, April 19 (Commodity Control): Castor seed prices in Gujarat experienced a rebound today, increasing by 10-20 rupees per 20 kilograms in response to a reduced supply triggered by farmers' reactions to recent price declines.
"Farmers are holding back 10-15% of their castor seed stocks as prices hover around 1100 rupees per 20 kilograms," explained a market trader. "This decline in selling activity has directly contributed to the price increase."
Today's trading volumes reflected this supply constraint, with approximately 110,000 sacks (1 sack = 35 kg) arriving in Gujarat, 13,000 sacks in Rajasthan, and 10,000 sacks sold directly to mills. Castor seed prices traded between 1110-1125 rupees per 20 kilograms.
The futures market mirrored this upward trend, with mill owners driving prices higher. Key contracts on the NCDEX saw increases throughout the day:
Jagana Shippers: +3 rupees (1162 to 1165 rupees)
N.K.: +5 rupees (1165 to 1170 rupees)
Kandla: +5/10 rupees (1140-1145 to 1145-1150 rupees per 20 kg)
Castor oil (Kandla delivery, Reddy-Reddy) closed at 1175-1177 rupees per 10 kilograms, up from the morning's 1172-1173 range.
(By Commoditiescontrol Bureau; +91-9820130172)
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