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:

  • As per the Ministry of Agriculture third advance estimate released on May 25, 2021, Castor production was 17.74 lakh metric tonnes (LMT) compared to the corresponding year which was 18.42 LMT, down by 3.69 percent
  • According to the Ministry of Agriculture, the sowing acreage of Castor as on July 30, 2021, was 0.72 lakh hectares(lh) down by 11.11 percent compared to 0.81 lh during the corresponding period
  • According to the government of Gujarat, the progressive area of Castor as on July 26, 2021, was 39,637 hectares (ha) up by 67.84 percent compared to 23,616 ha during the corresponding period
  • Stock positions of Castor Seed held at National Commodity Clearing Limited (NCCL) approved warehouses at Bhabhar, Deesa, Kadi, and Patan locations as on July 28, 2021, was 38,516 MT up by 7.21 percent in comparison to June 28, 2021, which stood at 35,925 MT
  • India is the world’s largest producer of Castor seed and Castor oil and according to SEA exports of Castor Oil in June 2021 was up by 50.91 percent at 81,759 MT compared to 54,179 MT in June 2020

Monsoon Update

For the country as a whole, cumulative rainfall during this year’s monsoon season till July 28, 2021, is below the Long Period Average (LPA) by 2 percent. Details of the rainfall distribution over the four broad geographical regions of India are given below:

Market commentary: Price outlook

  • Castor Seed prices have been on an upward trend and would remain bullish in immediate/short term due to fewer mandi arrivals and good export demand of Castor oil
  • There has been nearly a 40 percent appreciation in the spot prices of Castor seed since last year

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