Mumbai, April 25 (CommoditiesControl): The continuous influx of castor in Gujarat has exerted downward pressure on prices, with spot rates hovering around Rs 1100. Farmers are expressing concern as castor prices dip below the Rs 1100 mark, witnessing a decrease of Rs 10 per 20 kg in the state today. Market analysts note farmers' apprehension amid the downward trend in prices of other spice commodities such as mustard, cumin, and fennel, fearing a similar fate for castor. Consequently, farmers are hastening to offload their castor produce directly from the fields to the markets. Additionally, those who had stored castor are now actively selling, contributing to a continuous rise in arrivals.
Today, Gujarat saw the arrival of approximately 1,65,000 sacks (1 sack = 35 kg), complemented by 15,000 sacks from Rajasthan, totaling around 1,90,000 sacks. Notably, 10,000 sacks were traded directly in Milo. Castor prices ranged from Rs 1080 to Rs 1095 per 20 kg.
In response to the significant arrival volume in the spot market, millers have further reduced prices. The morning prices for Jagana Sheparso started at Rs 1136 but concluded at Rs 1133, N.K. Similarly, Kandla's morning prices decreased from around Rs 1155 to Rs 1145, while Kandla's prices ranged from Rs 1130-1135 in the morning, settling at Rs 1125-1130 per 20 kg. Additionally, the morning price of Reddy-Reddy for Kandla delivery Sharat in castor oil started at Rs 1150, ultimately settling at Rs 1145-1147 per 10 kg.
On NCDEX, the May contract of castor was trading at Rs 5652 per quintal, witnessing a decline of Rs 55, while the June contract stood at Rs 5723 per quintal, down by Rs 45, as of 16:50.
(By Commoditiescontrol Bureau; +91-9820130172)
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