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 Ministry of Agriculture, the sowing acreage of Castor Seed as on August 16, 2019 was 3.83 lakh hectares (lh) up by 23.15 percent compared to 3.11 lh during the corresponding period.
  • Stock positions of Castor Seed were down by 0.08 percent held at National Commodity Clearing Limited (NCCL) approved warehouses at Bhabhar, Deesa, Kadi and Patan locations. The stocks held as on August 15, 2019 was 1,32,652 MT compared to 1,32,764 MT as on August 01, 2019.
  • According to the Agmarknet website, all India Castor seed crop arrivals for July 2019 is reported at 32,892 MT which was 35.89 percent lower than last year arrivals of 51,304 MT in the same time period.
  • As per the Ministry of Agriculture third advance estimate FY 2018-19 released on June 03, 2019, Castor Seed production was 11.98 Mn MT compared to FY 2017-18 which was 18.31 Mn MT, down 34.57 percent.
castor

Note: August Mandi arrivals are for the period: 1 – 16 August, 2019

Note: Markets currently are in sync with each other where the Spot market prices and the Futures market prices are moving in tandem.

Market commentary: Price outlook

  • Castor Seed prices are likely to trade firmly in immediate/short term due to lower production estimates and also supported by good domestic demand which might put upward pressure on the Castor seed prices.
  • Lower arrivals in the domestic mandis if continued may push the prices northward.

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