Castorseed drops on weak demand outlook
21/01/2015 12:07
Castorseed prices fell by 1.74 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of fresh supply of the commodity in the major mandies as well as strong production estimates. At the NCDEX, castor seed futures for April 2015 contract was trading at Rs. 4,339 per quintal tonnes, down by 1.74 per cent, after opening at Rs. 4,409 against the previous closing price of Rs. 4,416. It touched the intra-day low of Rs. 4,310 till the trading. (At 12.04 PM today).
Castor oil, extracted from castor seed is the largest vegetable oil exported out of India. India is the biggest exporter of castor oil holding about 70 per cent share of the international trade in this commodity followed by China & Brazil.
21/01/2015 12:07
Castorseed prices fell by 1.74 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of fresh supply of the commodity in the major mandies as well as strong production estimates. At the NCDEX, castor seed futures for April 2015 contract was trading at Rs. 4,339 per quintal tonnes, down by 1.74 per cent, after opening at Rs. 4,409 against the previous closing price of Rs. 4,416. It touched the intra-day low of Rs. 4,310 till the trading. (At 12.04 PM today).
Castor oil, extracted from castor seed is the largest vegetable oil exported out of India. India is the biggest exporter of castor oil holding about 70 per cent share of the international trade in this commodity followed by China & Brazil.
