MUMBAI, 7 Aug (Commoditiescontrol): Gujarat castor markets prices experienced steady tone on Wednesday as mills were involved in regular buying activity, according to traders. Despite the prevailing rainy conditions, clear weather in several centers has led to an arrival of 35,000-40,000 bags of castor.
Traders reported that today's arrivals included approximately 27,000 bags from Gujarat, 6,000 bags from Rajasthan, and 3,000 bags directly to the mills, totaling around 36,000 bags (1 bag = 35 kg). Castor prices remained steady at Rs 1,190-1,205 per 20 kg.
Futures market strength also contributed to the firmness in the spot market, leading mills to increase their prices. For example, Jagana shippers' prices rose from Rs 1,230 in the morning to Rs 1,235 per 20 kg by the end of the day. Similarly, N.K.'s prices increased from Rs 1,235 to Rs 1,240, and Kandla's prices went from Rs 1,235-1,237 to Rs 1,245-1,250 per 20 kg.
In the castor oil market, Kandla delivery prices for Reddy-Reddy started at Rs 1,240-1,242 per 10 kg and ended slightly higher at Rs 1,242-1,244 per 10 kg.
On the NCDEX, as of 16:35, the August castor contract had risen by Rs 25 to trade at Rs 6,188 per quintal, while the September contract increased by Rs 29 to reach Rs 6,255 per quintal.
(By Commoditiescontrol Bureau; +91 98201 30172)
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