MUMBAI (Commoditiescontrol) – Spot Castor seed showed sluggish tone and traded at Rs 3900/100kg, down by Rs 25 from previous session at benchmark Deesa market of Gujarat on Thursday amid higher supply.
Arrivals in Gujarat market were reported at 1,75,000 bags (75Kg each) against 1,50,000 bags on previous session.
However the pace of arrival is slow as compared to last year as the castor seed prices are down by around Rs 500/100kg as compared to last year.
According to traders, millers are procuring castor seed as per requirement due to steady sales of castor oil in April.
Daily crushing requirment by millers is around 70,000-80,000 bags which means that supply is exceeding demand.
Castor oil traded at Rs 838/10kg, down by Rs 2 from previous session at benchmark Kadi market.
Castor Oil FOB kandla quoted at $1,305/tonne and CIF for Chinese ports at $1,330.
Castor seed future contract for delivery in May, was trading down by 0.14%, or Rs 6 at Rs 4,157/100kg on the National Commodity and Derivative Exchange Ltd (NCDEX).
(By Commoditiescontrol Bureau; +91-22- 40015516)
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