Ahmedabad, April 2nd (Commoditiescontrol): Castor seed prices softened in the spot market today, mirroring the decline in the futures market. Prices in Gujarat decreased by Rs 5-10 per 10 kg due to steady supply and limited demand. Traders anticipate a potential uptick in arrivals as prices recover.
According to a cargo surveyor's report, 57,728 tonnes of castor oil were exported in March, with China as the leading importer (33,276 tonnes). As prominent traders reported, total castor oil utilization, including derivatives and domestic use, reached 67,000 tonnes.
The spot market saw around 92,000-93,000 bags (35 kg each) of castor seed arrivals, which included arrivals in Gujarat and Rajasthan and direct mill purchases. Prices held steady between Rs 1160-1180 per 20 kg. Millers experienced price fluctuations aligned with the futures market. Key prices included:
Jagana Shippers: Rs 1203 opening, Rs 1190 closing (per 20 kg)
N.K.: Rs 1235 opening, Rs 1230 closing (per 20 kg)
Kandla: Rs 1180-1190 opening, Rs 1175-1185 closing (per 20 kg)
Reddy castor oil for Kandla delivery terms traded between Rs 1205-1207 in the morning and Rs 1203-1205 at close (per 10 kg).
On the NCDEX at 16:43, the April contract was down by Rs 34 at Rs 5975 per quintal, and the May contract declined by Rs 46, trading at Rs 5890 per quintal.
(By Commoditiescontrol Bureau; +91-9820130172)
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