Higher inflow crushes castor

Our Correspondent Rajkot | Updated on July 09, 2014

Spot castor prices decreased nominally on rising arrivals and weak demand.

With this, future also moved down marginally on profit booking. Castor oil declined on weak export demand. According to a broker, price had decreased sharply on Tuesday as arrival was high and the downfall continued on good selling by farmers and weak spot demand from stockists and millers.

On the NCDEX, castor July contract lost ₹18 to ₹4,180 a quintal with an open interest of 79,270 lots. About 50,000-55,000 bags of castorseed arrived in Gujarat and prices declined ₹5 to ₹830-840 for 20 kg.

Castor oil lost ₹5 to ₹855/10 kg. On the Rajkot Commodity Exchange, castor September contract was unchanged at ₹4,461. RCX spot castor decreased ₹25 to ₹4162.50 a quintal.

Published on July 09, 2014

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