Higher arrivals crush castor seed
28/04/2015 12:15
Higher arrival of castor seed put pressure on spot prices of the commodity on Tuesday at the National Commodity & Derivatives Exchange Limited (NCDEX). However rising demand from consuming industries in spot markets, including paint, soap and lubricant in the midst of a forecast of deficient rains this monsoon season capped some losses.
At the NCDEX, castor seed futures for May 2015 contract was trading at Rs. 3,775 per quintal tonnes, down by 0.71 per cent, after opening at Rs. 3,780 against the previous closing price of Rs. 3,802. It touched the intra-day low of Rs. 3,750 till the trading. (At 12.15 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.
28/04/2015 12:15
Higher arrival of castor seed put pressure on spot prices of the commodity on Tuesday at the National Commodity & Derivatives Exchange Limited (NCDEX). However rising demand from consuming industries in spot markets, including paint, soap and lubricant in the midst of a forecast of deficient rains this monsoon season capped some losses.
At the NCDEX, castor seed futures for May 2015 contract was trading at Rs. 3,775 per quintal tonnes, down by 0.71 per cent, after opening at Rs. 3,780 against the previous closing price of Rs. 3,802. It touched the intra-day low of Rs. 3,750 till the trading. (At 12.15 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.
