Mumbai, 8 May, (CommoditiesControl): The Gujarat castor spot market experienced a price decline today due to expectations of increased arrivals. However, these expectations proved inaccurate, leading to a rebound in the futures market.
Overall, castor arrivals were lower than anticipated, reaching approximately 175,000 sacks (150,000 from Gujarat and 15,000 from Rajasthan). This limited supply contributed to the initial price softness. Castor prices fell by Rs 1075-1090 per 20 kg.
Despite the spot market lull, the futures market saw improved castor oil prices, prompting millers to increase their prices accordingly. Key prices settled as follows:
Jagana Sheparso: Rs 1125 per 20 kg
N.K. Kandla: Rs 1135 per 20 kg
Reddy-Reddy Kandla: Rs 1145 per 10 kg
On the NCDEX, the castor May contract rose by Rs 34 to Rs 5570 per quintal, while the June contract increased by Rs 34 to Rs 5612 per quintal.
(By Commoditiescontrol Bureau; +91-9820130172)
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