AHMEDABAD, April 5 (Commodities Control): Castor seed arrivals in Gujarat have consistently exceeded 100,000 bags for the past three sessions. Today, the state's mandis saw an approximately 1.25 lakh bags inflow. Despite the healthy arrivals, the futures market exhibited weakness, leading to a 5-7 rupee per 20-kilogram decline in mandi prices. Traders maintain that the substantial arrivals are being met with equally strong demand, preventing a sharp price drop.
According to traders, Gujarat witnessed the arrival of around 1,00,000 bags (1 bag = 35 kg), 13,000 bags from Rajasthan, and 12,000 bags directly to mills, totalling approximately 1.25 lakh bags. Castor seed prices ranged between 1160 and 1185 rupees per 20 kilograms.
The decline in the futures market prompted millers to lower their prices. Jagaana Shippers opened at 1213 rupees and closed at 1205 rupees per 20 kilograms. N.K. opened at 1240 rupees and closed at 1235 rupees per 20 kilograms. Kandla prices opened at 1180-1200 rupees and closed at 1180-1195 rupees per 20 kilograms. Reddy castor oil for Kandla delivery terms opened at 1220-1222 rupees and closed at 1180-1220 rupees per 10 kilograms.
On the NCDEX at 4:55 PM, the April contract fell by 50 rupees to 6031 rupees per quintal, while the May contract declined by 48 rupees to 5945 rupees per quintal.
By Commoditiescontrol Bureau; +91-9820130172)
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