Castorseed Slumps On Lack Of Demand

Castorseed prices fell by 1.43 per cent on Thursday at the National Commodity & Derivatives Exchange Limited 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 2016 contract was trading at Rs. 3,383 per quintal tonnes, down by 1.43 per cent, after opening at Rs. 3,425 against the previous closing price of Rs. 3,432. It touched the intra-day low of Rs. 3,362 till the trading.

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.

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