Mumbai, April 25 (Commoditiescontrol): Castor seed markets in Gujarat experienced a slowdown today due to a decline in arrivals from Rajasthan. Elections in the Banaskantha region resulted in the closure of several markets, impacting supply lines.
Prices for castor seed remained mostly stable at Rs 1110-1125 per 20 kg, despite Gujarat arrivals of approximately 1,22,000 bags (1 bag = 35kg) and direct mill trades of 12,000 bags. Traders noted that stockists are hesitant to purchase at current prices, potentially leading to a price increase if demand strengthens.
The decline in arrivals was mirrored by a softening of the futures market, with NCDEX castor seed May and June contracts both experiencing losses (down Rs 27 to Rs 5760 per quintal and down Rs 24 to Rs 5818 per quintal respectively).
(By Commoditiescontrol Bureau; +91-9820130172)
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