MUMBAI, 5 Oct (Commoditiescontrol): The castor seed market in Gujarat witnessed a softening of prices on Saturday due to increased selling pressure from farmers and stockists.
Over the past few days, castor seed prices had been rising, prompting larger sales. Despite it being the weekend, arrivals were strong today, leading to a price dip of ₹5-10 per 20 kg. Traders remarked that the favorable prices have encouraged more selling activity. If this trend of heavy arrivals continues, prices may face further downward pressure in the coming days.
On Saturday, total arrivals in Gujarat amounted to around 48,000 bags (1 bag = 35 kg), with 38,000 bags from Gujarat, 6,000 bags from Rajasthan, and 4,000 bags directly to mills. Castor seed prices ranged between ₹1,290 and ₹1,305 per 20 kg.
In the Jagana market, prices opened at ₹1,340 but slipped slightly to close at ₹1,338. N.K. prices started at ₹1,370 and ended at ₹1,365, while in Kandla, prices opened at ₹1,315 and settled at ₹1,312 per 20 kg. For castor oil, Kandla delivery prices for Reddy-Reddy started at ₹1,337 per 10 kg and closed at ₹1,334.
With sustained pressure from high arrivals, traders expect castor seed prices to remain under watch, especially if selling continues at current volumes in the coming days.
(By Commoditiescontrol Bureau; +91 98201 30172)
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