MUMBAI, 08 Nov (Commoditiescontrol): In Gujarat's spot market, castor prices remained stable today, although several mandis in North Gujarat were closed due to the Jalaram Jayanti celebration, leading to reduced arrivals. Traders noted a sluggish atmosphere in the market, with the future market dynamics hinging on arrivals.
Today, approximately 16,000 bags (1 bag = 35 kg) of castor were reported in Gujarat, along with 3,000 bags from Rajasthan and an additional 1,000 bags from direct mills, resulting in a total arrival of around 20,000 bags. Castor prices were steady, ranging from ₹1,280 to ₹1,300 per 20 kg.
The futures market influenced the pricing strategies of millers as well. The morning price for Jagana Sheepers was ₹1,330, which decreased slightly to ₹1,328 by the end of trading. N.K. started at ₹1,350, finishing at ₹1,345, while Kandla maintained a steady price of ₹1,325 per 20 kg throughout the day. For castor oil, the delivery price in Kandla for the Sharat variety was ₹1,340-₹1,342 in the morning but later adjusted to ₹1,338-₹1,340 per 10 kg.
As of 4:45 PM on the NCDEX, the November contract for castor was trading down by ₹43 at ₹6,563, the December contract dropped by ₹14 to ₹6,737, and the January contract fell by ₹28 to ₹6,780 per quintal.
Overall, the castor market is navigating a period of stability, with fluctuations in pricing largely influenced by market sentiments and future arrivals.
(By Commoditiescontrol Bureau; +91 98201 30172)
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