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 first advance estimate released on September 21, 2021, Castor production was 15.98 lakh metric tonnes (LMT) for FY 2021-22 compared to the corresponding year which was 16.51 LMT, down by 3.21 percent
  • As per government of Gujarat first advance estimate released, Castor production was 14.08 lakh metric tonnes (LMT) for FY 2021-22 compared to the corresponding year which was 13.46 LMT, up by 4.61 percent
  • According to the government of Gujarat, the progressive area of Castor as of October 11, 2021, 6.52 lakh hectares (LH) up by 2.92 percent compared to 6.33 LH 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 of October 13, 2021, was 47,971 MT down by 19.24 percent in comparison to September 13, 2021, which stood at 59,403 MT
  • India is the world’s largest producer of Castor seed and Castor oil and according to the Solvent extractors association of India (SEA) exports of Castor Oil in August 2021 was up by 2.40 percent at 50,765 MT compared to 49,573 MT in August 2020

Monsoon Update

For the country as a whole, cumulative rainfall during this year’s monsoon season till September 30, 2021, is below the Long Period Average (LPA) by 1 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 steady in immediate/short term due to continuous export demand for castor oil and meal which has kept prices higher this season but the expectation of good production which may pressurize prices at such higher levels
  • The late monsoon rains in September has been beneficial for the castor growing area of Gujarat which can lead to improved production prospects

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