Ahmedabad, April 24 (Commodities Control): Following a brief hiatus due to mandi closures in Gujarat on Tuesday, the arrival of castor witnessed a notable surge over the past two days. Today, the state experienced an influx of over 150,000 bags of castor. Notably, despite this substantial increase in arrivals, the castor market has remained relatively stable, attributed to consistent demand from millers.
Market observations indicate that Milo Walo, a prominent consumer of castor, continues to maintain its demand, thereby mitigating any significant downturn in prices.
Today, Gujarat received approximately 140,000 sacks (1 sack = 35 kg) of castor, with an additional 15,000 sacks originating from Rajasthan. Direct trades in Milo Walo accounted for an additional 14,000 sacks, bringing the total arrivals to around 170,000 sacks. Castor prices remained stable within the range of Rs 1,125 1,140 per 20 kg.
Throughout the day, the futures market witnessed a marginal softening in castor prices, attributed to slight shifts in sentiment among millers. Morning prices for Jagana Sheparso started at Rs 1,164, ultimately settling at Rs 1,160 by day's end. Similarly, N.K. maintained a consistent price of Rs 1,175 throughout the day, while Kandla prices ranged between Rs 1,145-1,155 per 20 kg. Meanwhile, the morning prices for Reddy-Reddy on Kandla delivery Sharat in castor oil stood at Rs 1,168-1,170, ultimately adjusting to Rs 1,165-1,167 per 10 kg.
On NCDEX, the May contract for castor, as of 16:55, was trading at Rs 5,782, marking a decrease of Rs 28, while the June contract experienced a decline of Rs 39, settling at Rs 5,830 per quintal.
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