Login ID:
Partner Login
Contact Us : 7066511911

Castor Prices Fluctuate Amidst Steady Export Demand and Limited Arrivals

4 Jun 2024 4:56 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

Mumbai, June 4th, (Commodities Control): Castor prices experienced fluctuations today due to a combination of limited arrivals in Gujarat and sustained export demand for castor oil. The futures market opened with a positive trend on Monday, leading to a marginal increase of 5-10 rupees per 20 kg in the spot market this morning. However, subsequent pressure in the futures market led millers to adjust their prices downwards.

Market analysts suggest that the consistent demand for castor from millers, driven by robust castor oil exports last month, could contribute to price improvements in the near future. Today's arrivals from Gujarat, Rajasthan, and direct mill trades totaled approximately 80,000 bags (1 bag = 35 kg). Castor oil prices remained stable at Rs 1115-1130 per 20 kg.

Closing Prices:

Jagana Sheeperso: Opened at Rs 1158, closed at Rs 1153.

NK: Opened at Rs 1160, closed at Rs 1155.

Kandla: Remained unchanged at Rs 1138-1155.

Reddy-Reddy (Kandla Delivery Sharat): Opened at Rs 1158-1160, closed at Rs 1156-1158.

As of 16.47 hrs on NCDEX, the June castor contract was trading at Rs 5707 (down by Rs 34), and the July contract was trading at Rs 5770 per quintal (down by Rs 35).

The castor market is currently experiencing a dynamic interplay between limited supply and sustained demand. While the limited arrivals from Gujarat have exerted upward pressure on prices, the steady export demand for castor oil could potentially drive further price improvements in the coming days.

(By Commoditiescontrol Bureau; +91-9820130172)

  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  

Post Comment  

Latest Market Commentary
COCONUT PRICES : 16 Jul 2024
Castor Prices Feel Pressure On Monsoon Revival, Heavy S...
Malaysian Palm Oil Futures Surge on Strong Exports, Riv...
OIL SPOT PRICES : 16-Jul-2024
Peanut Prices Stable in Gujarat on Weak Demand, Limited...
Top 5 News
Small Cardamom Prices Continue to Decine
Domestic and Vietnamese Pepper Prices Continue to Decli...
Clove Prices Remained Stable; Imports Declined After Fi...
Market Wise Chana Arrivals: Supply Up By 3.56% Against...
Market Wise Tur Arrivals: Supply Up By 8.39% Against P...
Top 5 Special Reports
Argentina's Currency Market Intervention: Will It Reviv...
Weekly: Sugar Prices Decline Amid Strong Brazilian Outp...
Weekly: Cotton Extend Loss For 7th Week; Bears Tighten ...
USDA lowers 2024-25 global soybean production estimates...
USDA revises 2024-25 global cotton ending stocks estima...
Copyright © CC Commodity Info Services LLP. All rights reserved.