Mumbai, June 15 (CommoditiesControl) – Castor prices in Gujarat remained firm today, supported by consistent demand from shippers despite a steady arrival of the commodity. Traders report that shippers' inventories are low, prompting them to actively procure castor even amidst market speculation of a recession. With farmers also holding limited stocks, there is potential for further price increases in the near future.
Today, Gujarat received approximately 58,000 bags (1 bag = 35 kg) of castor, while Rajasthan contributed 11,000 bags. Additionally, 5,000 bags were directly traded with mills, bringing the total arrivals to around 74,000 bags – a decrease of 3,000 bags compared to Friday. Castor prices remained stable at Rs 1120-1140 per 20 kg.
With the futures market closed, mill prices remained unchanged. Jagana Sheeperso's price held at Rs 1168, NK's at Rs 1170, and Kandla's at Rs 1165-1180 per 20 kg. Castor oil prices also remained steady, with Reddy-Reddy's price for Kandla delivery at Rs 1173-1175 per 10 kg.
The castor market exhibits resilience, with prices maintaining strength due to sustained shipper demand and limited available stocks. While market speculation and fluctuating arrivals may introduce volatility, the current outlook suggests potential for further price appreciation in the coming days.
(By Commoditiescontrol Bureau; +91-9820130172)
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