Commodity Outlook – Castor Seed

Sowing period: July to October
Harvesting period: December to March
Crop season: Kharif

Key growing regions:

  1. Gujarat – Deesa, Mehsana, Banaskanth, Patan, Palanpur
  2. Rajasthan – Pali, Jodhpur, Hanumangarh
  3. Andhra Pradesh – Kurnool, Rangareddy
  4. Telangana – Mahbubnagar, Warangal

Production trend and Stock position:

  • According to the Directorate of Agriculture of Gujarat, Castor seed has been sown in 7.40 lakh hectares (lh) which was up by 38.58 percent in the state as compared to only 5.34 lh by this time last year.
  • As per the Solvent Extractors’ Association of India (SEA), all India castor seed production estimate for 2018-19 is 11.27 Lakh MT which is 21.35 percent lower than the 2017-18 production estimate of 14.33 Lakh MT.
  • Stock positions of Castor Seed were down by 7.99 percent held at National Commodity Clearing Limited (NCCL) approved warehouses at Bhabhar, Deesa, Kadi and Patan locations. The stocks held as on November 12, 2019 was 60,555 MT compared to 55,719 MT as on November 20, 2019.
castor

Note: November Mandi arrivals are for the period: 1 – 20 November, 2019

Note: Markets currently are in Backwardation where the Spot market prices are higher than the Future market prices.

Market commentary: Price outlook

  • Castor price is likely to trade steady in immediate / short term.
  • Castor price trading at its current levels in most physical markets of the country are expected to move towards Rs. 4,150 – 4,600 per quintal levels due to lower demand.

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