AHMEDABAD, March 11 (Commodities Control): Castor seed arrivals in Gujarat surged today, exceeding one lakh bags (3,500 metric tons). Despite this significant increase in supply, spot prices remained stable. Market analysts attribute this stability to muted futures market activity, which had little impact on spot prices. The ongoing demand from mills for castor oil production is absorbing the increased supply, and prices are expected to stay within the current range unless arrivals consistently surpass the one lakh bag mark for the next week. Farmers are eager to sell their produce, with market closures approaching at the end of March.
Trading figures show that Gujarat received approximately 85,000 bags of castor seeds, with Rajasthan contributing an additional 12,000-14,000 bags. Direct purchases by mills amounted to around 8,000 bags, resulting in total arrivals of approximately 1,07,000 bags. The average spot price remained between ₹1145-₹1165 per 20 kg. Mill prices varied, with Jagana Shippers offering ₹1185 per 20 kg, N.K. offering ₹1200-₹1205 per 20 kg, and Kandla prices ranging from ₹1175-₹1185 per 20 kg. Castor oil prices on Kandla ready delivery terms stood at ₹1203-₹1205 per 10 kg.
Castor seed prices have demonstrated resilience in the face of increased supply. Key factors influencing price trends in the coming days will be futures market activity and any fluctuations in mill demand.
(By Commoditiescontrol Bureau; +91-9820130172)
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