Akshaya Tritya Holiday Dampens Castor Market Activity

Mumbai, May 10 (CommoditiesControl): The Akshaya Tritya holiday led to widespread market closures across India, resulting in significantly reduced trading volumes within the castor market.

In Kutch-Bhachau and Banaskantha, where some markets remained open, arrivals totaled only 8,000-10,000 bags, leading to a price decline of Rs 5 to a range of Rs 1080-1095 per 20 kg.

The futures market exhibited mixed trends initially. After midday, softening futures prices prompted traders to reduce spot prices. Specific price movements for key varieties include:Jagana Sheparso: Rs 1129 per 20 kg (-Rs 3)N.K. Kandla: Rs 1135 per 20 kg (-Rs 5)Kandla (other): Rs 1115-1120 per 20 kg (-Rs 5 to -Rs 10)Reddy-Reddy (Kandla Delivery): Rs 1143 per 10 kg (-Rs 2)

NCDEX castor futures also reflected the softening trend:May Contract: Rs 5535 per quintal (-Rs 22)June Contract: Rs 5630 per quintal (-Rs 22.1)

(By Commoditiescontrol Bureau; +91-9820130172)