No possibility of heavy fluctuations in castor oil prices

17-Jun-2024 02:37 PM

Jodhpur. Last week, on the back of limited supply and better industrial demand, the price of castor oil rose by Rs 200 per quintal, but now there is no possibility of heavy fluctuations in it. Along with domestic demand, good demand was also seen from exporters in castor oil.

In Gujarat, the price increased by Rs 200 to Rs 11600 per quintal. Castor sowing has started in some areas. The major castor producing states include Gujarat, Rajasthan, Andhra Pradesh,

Telangana etc. During the 2023-24 season, the production of 18-20 lakh tonnes of castor in the country was estimated. India has almost a monopoly in the global market in the export of castor oil and castor meal.

The country gets valuable foreign exchange from its export. India is the leading producer of castor in the world and the highest production of castor in India is in Gujarat while Rajasthan is at number two.

Castor oil is exported in large quantities from India to many countries of the world, including China, America, Brazil, Japan, Australia, Kazakhstan, Canada and the European Union. Sowing can start in Gujarat from next month.