Castor Seed Is expected To Trade Lower In the Weeks Ahead

Castor seed prices are likely to stablize around Rs 3750 to Rs 3850 per qtl. in the month of April.Arrivals are comparatively lower than last year by 30 to 35 percent at this point of time.In Deesa mandi it is still hovering in the range Rs3950 to 4000 per qtl.Big stake holders have released position in futures and market may trade lower in the weeks ahead.However,June onward tight supply position would support price. The impact of tight supply position may be felt June onward. Foreign buyers are expected to build up stock before first half. Speculators may drive price in the second half by cornering stock in the first half. Currency fluctuations have ability to impact normal course of trade. Major buyers like China, E.U. & US are expected to start fresh deal from April and May as next two months might be a stable market and buyers would prefer to clinch maximum deals in these two months.In future market stake holders have started building up positions in long months.This also indicates uptrend in the second half.