MUMBAI, 8 Oct (Commoditiescontrol): Castor seeds remained stable today in spot market, following a recovery in the futures market. Traders noted that market sentiment is currently focused on the upcoming castor seed arrivals and the demand trends in the castor oil market, which could shape price movements in the days ahead.
In terms of arrivals, around 44,000 bags (1 bag = 35 kg) of castor seeds reached the market today, including 35,000 bags from Gujarat, 5,000 bags from Rajasthan, and 4,000 bags directly supplied to mills. Spot prices for castor seeds remained unchanged at ₹1,290-1,305 per 20 kg.
Regional price movements saw slight variations throughout the day. In the Jagana region, prices rose from a morning rate of ₹1,328 to ₹1,330 per 20 kg by the end of trading. N.K. saw an increase from ₹1,335 to ₹1,350, while Kandla’s rates moved up from ₹1,315 to ₹1,325 per 20 kg. Meanwhile, in the castor oil market, Kandla delivery prices opened at ₹1,332 per 10 kg but softened slightly to ₹1,327 by the close.
The futures market for castor seeds also saw positive movement. As of 4:36 PM on the NCDEX, the October contract increased by ₹69 to ₹6,795 per quintal. The November contract rose by ₹44 to ₹6,879 per quintal, and the December contract was up by ₹32, trading at ₹6,945 per quintal.
With steady arrivals and a stable price trend in the spot market, the focus now shifts to how the demand for castor oil and new arrivals will influence the market in the coming days. Traders remain cautiously optimistic as they monitor these key indicators.
(By Commoditiescontrol Bureau; +91 98201 30172)
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