MUMBAI, 22 Jan (Commoditiescontrol): As January nears its end, castor seed arrivals remain lower than expected, causing a sluggish recovery in prices. Traders believe that prices will only see significant improvement once arrivals reach 50,000 bags per day. Currently, the pace of arrivals has kept price movements limited, with castor seed prices rising by ₹5 per 20 kg on Tuesday.
The day saw new castor seed arrivals of approximately 6,000 bags across Gujarat markets. The total arrivals included 20,000 bags from Gujarat, 2,000 bags from Rajasthan, and 1,000 bags directly at mills, bringing the overall tally to 23,000 bags (1 bag = 35 kg). Prices remained steady in the range of ₹1,265–₹1,280 per 20 kg in Gujarat.
Futures market activity influenced buying behavior at the mills, leading to slight price adjustments. At Kandla, morning prices opened at ₹1,305 per 20 kg and closed at ₹1,310, while NK’s prices moved from ₹1,320 in the morning to ₹1,325 by the end of the day. Similarly, Jasana Shippers raised prices from ₹1,305 to ₹1,310 per 20 kg.
In the castor oil segment, Kandla delivery prices for ready-ready contracts increased marginally, moving from ₹1,330 in the morning to ₹1,335 per 10 kg by the day's end.
At NCDEX (National Commodity & Derivatives Exchange), castor seed futures saw an upward trend. By 4:05 PM, the February contract rose by ₹36 to ₹6,503 per quintal, the March contract gained ₹47 to ₹6,500 per quintal, and the April contract increased by ₹45 to ₹6,480 per quintal.
Despite the limited arrivals, steady price adjustments in both the physical and futures markets reflect cautious optimism among traders and mill buyers. A rise in arrivals could accelerate the pace of recovery in the coming weeks.
(By Commoditiescontrol Bureau; +91 98201 30172)
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