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Castor Prices Decline in Gujarat Amid Increased Arrivals

18 Jun 2024 4:36 pm
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Mumbai, June 18 (CommoditiesControl): Castor prices experienced a slight decrease in Gujarat today due to increased arrivals following the reopening of mandis after the Eid holiday. The total arrival of castor seeds in the state reached approximately 70,000 bags, including 55,000 bags from Gujarat, 10,000 bags from Rajasthan, and 5,000 bags traded directly in mills.

The increased supply exerted downward pressure on prices, with castor prices softening by Rs 5 to Rs 1120-1135 per 20 kg. The futures market also reflected this trend, with the June castor contract on NCDEX trading slightly higher, while the July and August contracts experienced declines.

Milovalon adjusted its prices in response to market movements, with Jagana Sheeperso and N.K. prices both experiencing minor decreases. Similarly, Kandla prices and Reddy-Reddy castor oil prices on Kandla delivery also witnessed slight adjustments.

The castor market in Gujarat is currently characterized by increased arrivals and subsequent pressure on prices. While the futures market suggests potential price fluctuations in the coming months, the overall outlook remains cautious as market participants closely monitor supply and demand dynamics.

(By Commoditiescontrol Bureau; +91-9820130172)

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