Lower output pushes castor prices up 21% this month

Hopes of good export demand for castor oil and meal fueled the rise

Prices of castor seed continue to surge on the back of lower production and expectation of good export demand for castor oil and meal in the coming months.

Seed prices have already reached a two-year high at the National Commodities and Derivatives Exchange (NCDEX) and physical markets. In the latter, seed prices have risen 21.3 per cent during March itself.

"The market has reacted on a lower production estimate and that's why seed prices have gone up sharply. However, it is just the beginning of fresh arrivals, which will increase in the coming days. This may put castor prices under