Mumbai, May 6 (CommoditiesControl): The castor market in Gujarat witnessed a subdued atmosphere today due to an influx of arrivals, resulting in a decline in prices. Traders noted that Mondays typically see higher castor arrivals following the Sunday holiday, and with limited demand today, prices remained sluggish. With all state mandis closed yesterday due to general elections, market activity now hinges on Wednesday's arrivals.
Approximately 1,65,000 sacks (1 sack = 35 kg) arrived from Gujarat today, accompanied by 18,000 sacks from Rajasthan, contributing to a total arrival of around 1,95,000 sacks, with 12,000 sacks directly traded in Milo. Castor prices experienced a decline of Rs 1080-1095 per 20 kg.
The surge in spot arrivals prompted a decrease in castor oil prices in the futures market, prompting traders to adjust prices accordingly. Prices for Jagana Sheparso started at Rs 1135 in the morning but closed at Rs 1128, while N.K. saw a morning price of Rs 1140, ending at Rs 1135. Similarly, Kandla prices started at Rs 1120-1125 in the morning, settling at Rs 1117-1122 per 20 kg. Additionally, Reddy-Reddy on Kandla Delivery Sharat in castor oil began at Rs 1143 in the morning, ultimately reaching Rs 1140 per 10 kg.
On NCDEX, the May contract of castor fell by Rs 58 to close at Rs 5583, while the June contract dropped by Rs 66 to close at Rs 5671 per quintal.
(By Commoditiescontrol Bureau; +91-9820130172)
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