Last Updated :
20 September 2011 at 15:55 IST
Why gains in castor seed may remain capped
AHMEDABAD (Commodity Online): With castor seed sowing acreage going up by almost 4 lakh hectares, it is likely that the gains in the commodity may remain capped. Castor seed acreage for the current sowing season as on September has gone up to 11.73 lakh hectares from 7.64 lakh hectares last year.
“With monsoons remaining normal, the output is expected to be robust” said Sudha Acharya, agri commodity analyst with Kotak Commodities.
The current uptrend in castor seed can be attributed to last year’s production remaining slim.
“One may expect fresh arrivals in January.” Sudha continued.
NCDEX castor seed LTP is at Rs.4860 as on 03.53 pm, IST; a gain of 1.8%.
NCDEX GARSEDJDRJUL12 20 July 2012
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