Commodities

Export demand lifts castor

Our Correspondent Rajkot | Updated on August 06, 2014




Higher demand pushed up castor prices in the spot market. Moreover, speculative buying at the lower level also supported the rise in castor price in the futures market. On the NCDEX, castor August contract gained ₹54 at ₹4,242 a quintal and September series increased by ₹43 to ₹4,256. Traders said that expectation of export demand for castor oil encouraged the mills to buy. On the Rajkot Commodity Exchange (RCX), castor September contract was up ₹32 at ₹4,298. RCX spot castor was up ₹12.50 at ₹4,037.50. Castor oil gained ₹5 at ₹840/10 kg. About 23,000-25,000 bags of castor arrived in Gujarat and went for ₹805-815 for 20 kg. Around 1,200-1,300 bags arrived in Saurashtra and traded at ₹780-790.

Published on August 06, 2014

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