Mumbai, June 3 (Commodities Control): Castor oil prices in Gujarat saw a marginal increase of 5-10 rupees per 20 kg today, driven by record-breaking export figures for the month of May. Shipping agencies reported a total of 90,675 tonnes of castor oil exported, surpassing the previous monthly high.
The surge in exports contributed to a positive sentiment in the futures market, leading to a price increase for Milovalo as well. Jagana Sheeperso closed at Rs 1155-1157, N.K. at Rs 1160, and Kandla at Rs 1140-1160 per 10 kg. Reddy-Reddy, on Kandla delivery Sharat, ended the day at Rs 1158-1160 per 10 kg.
On the NCDEX, the June castor contract settled at Rs 5743, up by Rs 41, while the July contract closed at Rs 5810 per quintal, up by Rs 26.
The castor oil market in Gujarat is currently experiencing a bullish trend, fueled by robust export demand. This, coupled with positive futures market movements, indicates a continued upward pressure on prices in the near future.
(By Commoditiescontrol Bureau; +91-9820130172)
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