MUMBAI, 10 Aug (Commoditiescontrol): As the castor supply season enters its final months, rumors of a shortage have been circulating vigorously in the market. Despite these discussions, the pressure of arrivals in the market is increasing instead of decreasing, leading to a decline in market sentiment, according to traders. The direction of price movements in castor oil will be determined once the export situation and sowing conditions become clearer. Today, castor prices remained steady across the region.
According to traders, approximately 46,000 bags (1 bag = 35 kg) arrived today, with around 37,000 bags from Gujarat, 6,000 bags from Rajasthan, and 3,000 bags traded directly at the mills. Castor prices held steady at Rs 1,190-1,205 per 20 kg.
With the futures market closed, mill owners did not make significant changes in the prices. Prices for castor oil from Jagana Shippers, NK, and Kandla remained unchanged at Rs 1,235 per 20 kg since the morning. Additionally, ready delivery prices for Kandla castor oil were also steady at Rs 1,242-1,243 per 10 kg.
(By Commoditiescontrol Bureau; +91 98201 30172)
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