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Current Market Developments:

• Since mid-March castor seed prices have been pressurised by higher supplies against steady demand from castor crushing mills and stockiest.
• Currently, Castor seed prices in Deesa market have decline to around Rs 5,885 per quintal as against Rs 5,962 per quintal during first fortnight of March. Likewise, castor prices have remained weak at other centres of Kadi and at Badepalli in Telangana.

• Castor seed supplies in domestic markets of Gujarat have increased and daily on an average around 18 thousand bags are arriving in markets of Kutch district. Around 45 lakh bags of castor production estimated in Kutch and this year supplies have started early from January onwards resulting in good availability with castor seed crushing mills.
• As per the Ministry of Agriculture, the domestic castor crop production is estimated to decline by 5 percent at 18.79 lakh tonnes as compared to 19.80 lakh tonnes last year as per the 02nd Advance Estimates for 2023-24 released on 29th February 2024.
• According to trade sources, this year Castor crop production would be around 19-20 lakh tonnes with a carry forward stock of around 2 to 2.5 lakh tonnes. The total annual supplies would remain around 21 to 22 lakh tonnes.
• At the export front, significant increase 5.27 percent in exports is registered for Castor Oil & its Fractions during April-January 2024 at 5.16 lakh tonnes as compared to 4.90 lakh tonnes exported during April-January 2023. Higher exports were reported to China at 2.59 lakh tonnes as compared to 2.24 lakh tonnes last year same period. Trade sources are expecting higher exports of around 6 to 6.5 lakh tonnes expected during Apr-Mar 2023-24.

Castor Seed Price Trend Vs Seasonality

CASTOR OIL AND ITS FRACTIONS: EXPORTS

AREA AND PRODUCTION TREND: INDIA & MAJOR STATES

WEEKLY AVERAGE CASTOR PRICES: DOMESTIC MARKETS

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“agribazaar” 2024.