Current Market Developments:
- During the last fortnight Castor seed prices in domestic spot markets of Gujarat and Rajasthan continue to trade in a range bound with slight firm tone as steady demand from castor seed crushing mills and good buying from local traders remained strong. Supplies in spot markets continue to remain sufficient.
- Castor seed prices in Deesa remained higher by 0.36 percent, at Jodhpur prices remained higher by 0.77 percent, Mehsana prices remained higher by 3.08 percent and in Kadi prices were higher by 2.77 percent.
- As per trade sources, due to early sowing of castor in parts of Rajasthan and Gujarat, new arrivals of around 5-7 lakh bags are likely to arrive in December month. So, around 27-32 lakh bags stocks would be available in markets till 31st December.
- So, far the lower Castor oil exports from India has resulted in sufficient availability in domestic spot markets. As per the Solvent Extractors Association of India, Castor oil exports during April-September 2022-23 have remained lower by 17 percent at 3,09,494 metric tonnes as compared to 3,72,665 metric tonnes last year same period.
- Good monsoon rainfall and good returns has encouraged farmers for higher Castor acreage this season. As per the information kharif season Castor seed acreage in India has remained around 7.50 lakh hectares.
- As per the Ministry of Agriculture 01st Crop Advance Estimates 2022-23, Castor seed production 2022-23 is estimated to decline by 6 percent at 15.08 lakh tonnes as compared to 16.11 lakh tonnes last year in 2021-22.
Castor Seed Price Trend Vs Seasonality at Key Markets
Castor Seed Area, Production and Yield: India & Major States
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