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Gujarat Castor Market Remains Stable Amidst Reduced Arrivals and Closed Futures Trading

22 Jun 2024 3:25 pm
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Mumbai, June 22 (CommoditiesControl):Gujarat's castor market experienced a subdued atmosphere today, with prices remaining stable due to reduced arrivals and the closure of futures trading. Most mandis in the Banaskantha region of North Gujarat were closed due to the full moon, leading to a decline in castor arrivals.

Traders reported an estimated arrival of 30,000 bags (1 bag = 35 kg) in Gujarat, with an additional 7,000 bags from Rajasthan. Approximately 5,000 bags were traded directly with mills, bringing the total to around 42,000 bags. Castor prices held steady at Rs 1115-1130 per 20 kg.

The closure of the futures market resulted in no significant changes in miller prices. Jagana Sheeperso's price remained unchanged at Rs. 1157, N.K.'s price held steady at Rs. 1165, and Kandla's price remained within the range of Rs. 1150-1170 per 20 kg. In the castor oil segment, Reddy-Reddy's price for Kandla delivery remained unchanged at Rs. 1167-1168 per 10 kg.

The Gujarat castor market demonstrated stability today due to the combined effects of reduced arrivals caused by market closures and the absence of futures trading. While prices remained stable, market participants will likely monitor supply levels and futures market activity in the coming days to gauge potential price movements.

(By Commoditiescontrol Bureau; +91-9820130172)

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