Mumbai, June 27 (CommoditiesControl) – The Gujarat castor market remained stable today, buoyed by consistent demand and anticipation of rain in the North. Traders noted that the prices were unaffected by the arrival of new stock, suggesting strong underlying demand.
Market participants are now awaiting the release of June export figures on Monday, which could influence future price movements. Additionally, impending rain in North Gujarat is expected to trigger sowing, which could further impact the market dynamics.
Approximately 69,000 bags of castor arrived in the market today, with the majority originating from Gujarat. Castor oil prices held steady at Rs 1120-1135 per 20 kg.
Futures market improvements led to price adjustments in Milovalon. Jagana Sheeperso ended the day at Rs 1161, N.K. at Rs 1172, and Kandla at Rs 1160-1182 per 20 kg. Castor oil on Kandla delivery Sharat closed at Rs 1165-1167 per 10 kg.
On the National Commodity & Derivatives Exchange Limited (NCDEX), the July castor oil contract rose by Rs 4 to Rs 5765, and the August contract increased by Rs 5 to Rs 5830 per quintal.
The Gujarat castor market demonstrates resilience amidst steady demand and upcoming rain. Market participants are keenly observing export figures and weather patterns to anticipate future price movements. The overall outlook remains cautiously optimistic, with potential for price adjustments based on upcoming developments.
(By Commoditiescontrol Bureau; +91-9820130172)
0 Comments 
Post Comment 
