MUMBAI, 11 Sep (Commoditiescontrol): Castor seed prices strengthened slightly in key markets of North Gujarat on Wednesday as morning rains limited arrivals. With fewer supplies and steady demand from mills, castor prices increased by ₹5-10 per 20 kg. Traders indicated that the future market movement will largely depend on the arrival volumes in the coming days.
In Gujarat, approximately 27,000 bags (1 bag = 35 kg) of castor were brought to the market today, while Rajasthan contributed an additional 5,000 bags, and 2,000 bags were delivered directly to mills, bringing the total to around 34,000 bags. Prices remained steady, ranging between ₹1,195 and ₹1,210 per 20 kg.
Futures market fluctuations also influenced spot market activity, leading mills to adjust their prices. Jagana shippers’ morning prices were quoted at ₹1,238-₹1,240 per 20 kg, closing at ₹1,238. N.K. maintained a stable price of ₹1,240 throughout the day. In Kandla, prices opened at ₹1,232-₹1,250 and settled between ₹1,232 and ₹1,245 per 20 kg. Castor oil prices for Kandla delivery, on a ready basis, also saw minor fluctuations, starting at ₹1,240-₹1,241 and closing slightly higher at ₹1,240-₹1,242 per 10 kg.
On the NCDEX, the September castor seed contract gained ₹8, closing at ₹6,096 per quintal, while the October contract rose by ₹4, reaching ₹6,190 per quintal by 4:38 PM.
(By Commoditiescontrol Bureau; +91 98201 30172)
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