Sowing period: July to August
Harvesting period: December to March
Crop season: Kharif
Key growing regions:
- Gujarat – Deesa, Mehsana, Banaskanth, Patan, Palanpur
- Rajasthan – Pali, Jodhpur, Hanumangarh
- Andhra Pradesh – Kurnool, Rangareddy
- Telangana – Mahbubnagar, Warangal
Production trend and Stock position:
- 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 up by 0.38 percent held at National Commodity Clearing Limited (NCCL) approved warehouses at Bhabhar, Deesa, Kadi and Patan locations. The stocks held as on June 06, 2019 was 1,53,274 MT compared to 1,53,849 MT as on June 13, 2019.
- According to IMD’s forecast of below normal or near normal rainfall for 2019 and lower water levels in reservoirs in the major producing states of Castor seed may decrease its production in 2019-20 as compare to 2018-19.
- Arrivals are expected to decrease in the coming days due to lower prices in the domestic mandis and lower production estimate.
Note: May Mandi arrivals are for the period: 1 – 20 June, 2019
Note: Markets currently are in Backwardation trend where the Spot market prices are higher than the Futures market prices.
Market commentary: Price outlook
- Castor Seed prices are likely to trade firm in immediate/short term.