Increase in Demand of Castor Seed

Castor seed prices increased by 0.19 % on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of new demand of the commodity in the major mandies. Castor seed futures for February 2015 contract was trading at Rs. 3,775/quintal tonnes, upward by 0.19 %, after opening at Rs. 3,781 against the last ending price of Rs. 3,768. It touched the intra-day max of Rs. 3,790 till the trading. Castor oil, extracted from castor seed is the highest vegetable oil exported out of India. India is the largest exporter of castor oil holding about 70 % share of the international trade in this commodity followed by China & Brazil.