Castor seed gains on strong export demand
05/05/2015 12:35
Castor seed futures rose on the National Commodity & Derivatives Exchange Limited (NCDEX) as speculators enlarged their positions, tracking a firm trend at spot market on strong retailers and export demand. India’s castor oil exports are likely to rise this year by a third, on rising demand from America, China and the European Union (EU), its three largest importers.
At the NCDEX, castor seed futures for May 2015 contract were trading at Rs. 3,740 per quintal tonnes, up by 1.11 per cent, after opening at Rs. 3,720 against the previous closing price of Rs. 3,699. It touched the intra-day high of Rs. 3,757 till the trading. (At 12.35 PM today).
Besides, expectation of improving demands from paint and lubrication industries also supported the upside.
Castor is a non-edible oilseed crop; basically a cash crop, with average 46 per cent oil recovery.
05/05/2015 12:35
Castor seed futures rose on the National Commodity & Derivatives Exchange Limited (NCDEX) as speculators enlarged their positions, tracking a firm trend at spot market on strong retailers and export demand. India’s castor oil exports are likely to rise this year by a third, on rising demand from America, China and the European Union (EU), its three largest importers.
At the NCDEX, castor seed futures for May 2015 contract were trading at Rs. 3,740 per quintal tonnes, up by 1.11 per cent, after opening at Rs. 3,720 against the previous closing price of Rs. 3,699. It touched the intra-day high of Rs. 3,757 till the trading. (At 12.35 PM today).
Besides, expectation of improving demands from paint and lubrication industries also supported the upside.
Castor is a non-edible oilseed crop; basically a cash crop, with average 46 per cent oil recovery.
