Commodity Outlook – Castor Seed

Sowing period: July to August
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 Solvent Extractors Association of India, Castor Seed production is expected to decline to 1.20 – 1.25 million tonnes (MMT) in 2018-19 (July-June) against 1.42 MMT in the previous year.
  • Stock positions of Castor Seed were up by 6.61 per cent held at National Commodity Clearing Limited (NCCL) approved warehouses at Bhabhar, Deesa, Kadi and Patan locations. The stocks held as on May 09, 2019 was 1,34,673 MT compared to 1,43,570 MT as on May 16, 2019.
  • Crop arrivals in mandis across Gujarat have dropped to 52.96 per cent in the month of May compared to April 2019 due to lower production estimates and due to lower prices in domestic mandis.
  • As per Rajasthan’s Department of Agriculture, Castor Seed production in 2018-19 is likely to decline by 6.02 per cent at 1.56 lakh tonnes (lt) as compared to 1.66 lt during 2017-18.

Note: May Mandi arrivals are for the period: 1 – 15 May 2019

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

Market commentary: Price outlook

  • Castor Seed prices are likely to trade firmly in immediate/short term.
  • Castor Seed prices in most physical markets of the country were currently traded at Rs. 5,500 to 5,700 levels and are expected to move towards higher levels due to firm domestic demand amidst lower production.

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