Castor seed futures augmented by almost Rs 300 per quintal in last two days due to news of crop damage in Gujarat along with strong cues from physical market.
Traders suggested that cold wave conditions prevail over most parts of Saurashtra, Kutch & Gujarat. The Minimum Temperatures are about 2 to 3 Degrees below normal. Rajkot had a Minimum of 9.5 Degrees which is about 2 Degrees below normal. The Maximum Temperature in Rajkot has been near normal plus minus 1 Degrees from 28 degrees. This might result to some damage to castorseed crop in the state.
The spot prices of castorseed spurted by almost Rs 700 per quintal in last two days to trade at around Rs 4300 per quintal at Disa mandi with the minimal arrivals of around 10000 bags , down almost 25000 bags that were reported earlier.
Consequently , the NCDEX Castorseed February contract is trading at Rs 4024, up almost Rs 300 per quintal in last two days.
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