MUMBAI, 13 Dec (Commoditiescontrol): After several days of decline, castor seed prices in Gujarat's spot market showed some improvement on Friday, rising by ₹5–10 per 20 kg. Traders observed a "cut-piece" trading pattern in the market, with mixed sentiment. Optimistic traders believe that the expected lower arrivals of new castor crops in January could lead to a temporary price rally. However, most agree that a significant price drop is unlikely in the current scenario.
Gujarat reported total arrivals of approximately 16,000 bags (1 bag = 35 kg) of castor seeds, while Rajasthan contributed 2,000 bags. An additional 1,000 bags were directly sold to mills, bringing the total arrivals to 19,000 bags. Prices for castor seeds ranged between ₹1,235 and ₹1,250 per 20 kg.
Changes in futures trading also influenced mill prices. In the morning, Jagnana Shippers quoted ₹1,277, but the price fell to ₹1,273 by the close. Similarly, N.K. quoted ₹1,295 in the morning, ending the day at ₹1,290. Kandla mill prices also saw a slight decline, starting at ₹1,270 and closing at ₹1,268 per 20 kg. For castor oil (Kandla delivery), Reddy-Reddy mills quoted ₹1,293 in the morning, which slipped to ₹1,290 per 10 kg by the day’s end.
On the NCDEX, castor seed futures showed further weakness. By 4:35 PM, the December contract had dropped ₹20 to ₹6,275 per quintal, the January contract fell ₹26 to ₹6,346 per quintal, and the February contract declined ₹20 to ₹6,400 per quintal.
With steady demand and limited arrivals, the castor seed market is expected to remain balanced in the near term, with price fluctuations driven by seasonal factors and futures market trends.
(By Commoditiescontrol Bureau; +91 98201 30172)
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