MUMBAI, 4 Oct (Commoditiescontrol): Gujarat's castor seed market experienced significant volatility today, as futures market pressure spilled over into the spot market, leading to a drop in prices. Castor seed prices in the spot market fell by ₹10-15 per 20 kg, marking a shift from the bullish trend that had persisted for several days. The decline in futures also impacted the castor oil market, with traders closely watching how future arrivals will shape market dynamics.
A total of approximately 46,000 bags (1 bag = 35 kg) of castor seed arrived today, with 37,000 bags coming from Gujarat, 5,000 from Rajasthan, and 4,000 directly from mills. Prices for castor seed ranged from ₹1,290 to ₹1,310 per 20 kg.
In the morning, Jagana Shippers quoted prices at ₹1,354, which later dipped to ₹1,335 before closing at ₹1,340. N.K.'s prices opened at ₹1,380, fell to ₹1,365, and ended the day at ₹1,370 per 20 kg. Similarly, Kandla prices started at ₹1,320, briefly touched ₹1,310, and closed at ₹1,315 per 20 kg. In the castor oil market, Kandla delivery saw prices open at ₹1,332, closing slightly higher at ₹1,337 per 10 kg.
On the NCDEX, at 4:41 PM, the October castor contract dropped by ₹80 to trade at ₹6,811 per quintal, while the November contract slipped by ₹88 to ₹6,884 per quintal, and the December contract fell by ₹48 to ₹6,954 per quintal.
Market participants are now focusing on upcoming arrivals and trading patterns to determine the direction of prices in the days ahead, with a particular emphasis on how futures market trends continue to impact spot prices.
(By Commoditiescontrol Bureau; +91 98201 30172)
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