Commodity Outlook – Castor Seed

agribazaar July 21, 2019

Sowing period: July to August
Harvesting period: December to March
Crop season: Kharif

According to the latest second advance estimates by Ministry of Agriculture, Castor seed production estimate for 2018-19 was down by 21.37 percent at 11.77 lakh tonnes as compared to 14.97 lakh tonnes last year.
As per Department of Agriculture Gujarat, revised second advance estimates for 2018-19 Castor seed production was down by 35.24 percent at 9.61 lakh tonnes against 14.84 lakh tonnes during 2017-18.
As per Agriwatch website there was decline in all India Castor seed production, mainly due to lower crop estimates from Gujarat because of deficient rainfall during 2018 in key Castor seed growing regions of Mehsana, Patan and Surendranagar.
Stock positions of Castor seed were up by 4.36 percent held at National Commodity Clearing Limited (NCCL) approved warehouses at Bhabhar, Deesa, Kadi and Patan locations. The stocks held as on April 04, 2019 was 85,850 MT compared to 89,590 MT as on April 11, 2019.

Note: Bullish trend in Spot and Futures prices of Castor seed.

Castor seed prices in most Spot markets of the country remained on a higher side due to firm domestic demand amidst lower production.
Castor seed prices are likely to trade firmly in the immediate / short term.