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 media sources the massive locust attack in December 2019 had affected about 25,000 hectares of land in two of the worst-hit North Gujarat districts of Banaskantha and Patan.
  • 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 7.76 percent held at National Commodity Clearing Limited (NCCL) approved warehouses at Bhabhar, Deesa, Kadi and Patan locations. The stocks held as on December 31, 2019 was 30,305 MT compared to 27,954 MT as on January 08, 2020.

Source: Agmarknet
Note: January Mandi arrivals are for the period: 1 – 08 January, 2020

Source: NCDEX
Note: Markets currently are in Backwardation where the Spot market prices are higher than the Futures market prices.

Market commentary: Price outlook

  • Castor Seed prices are likely to trade steady to weak in immediate / short term.
  • Castor Seed prices trading at its current levels in most physical markets of the country are expected to move towards Rs. 4,200 – 4,300 per quintal levels due to lower demand.

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