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28 मार्च 2015

Castor Oil Demand May Increase By 15 % In 2015



Indication of higher demand for castor oil started  emerging on ground level with increased enquiry from major importers like China,EU and US.More dip in seed price is unlikely and seed market is expected to stablize around Rs 3350 to Rs 3500 per qtl,despite expectation of higher arrivals.Notably, oil export decreased by 7.22 percent from 4.60 to 4.29 lakh tonne in 2014 ownig to higher prices and sluggish demand from overseas buyers.
 
Market experts have started pridicting considerable rise in castor oil export this year.It may increase by 15 percent from 4.29 lakh tonne to over 5 lakh tonne in 2015.Castor oil and its derivatives have many applications inagriculture, cosmetics, electronics & telecommunications, food, lubricants, paints, inks and adhesives, paper, perfumeries, pharmaceuticals, plastics and rubber and textile chemicals.
 
As crop size is slightly higher(2 lakh tonne) than last year,seed may get support at price front in the second half of the year.Total availability of seed including carryout  would be around 19 lakh tonne this year while consumption is expected at 14 lakh tonne for next year.On paper it looks comfortable right now.However,stock holding would create short supply like condition June onward.So price would follow the similar trend we have witnessed last year.The bottom side would be Rs 3300-3400 while the top level might be 4500/4600 by the end of October -Nov.2015. 
 
Market expert says that China has covered 85 percent of its annual need(1.8 lakh tonne),EU and US too have covered 80 percent of their need so far.EU and US annual need is expected to be 1.20 and 0.60 lakh tonne respectivey. Demand from other countries  is likely to improve in the month of April as buyers are waiting for higher arrivals.Farmers are receiving  much lower price and if the similar trend continues that may reduce their castor acreage this year starting from July. ...agriwatch

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