Castor seed price hits 5-year low in Gujarat spot market
Two of Gujarat’s large millers took the delivery. Castor seeds had closed at Rs 3051 per 100 kg on NCDEX on Wednesday before trading was suspended.
By Palak Shah, ET Bureau | Updated:
MUMBAI: The spot market for Castor seeds in Gujarat witnessed panic like situation on Thursday, a day after Mumbai based exchange NCDEX banned futures trading in the commodity.
Traders from Gujarat told ET that Castor Seeds were sold by farmers at a 5 year low price of Rs 2800 per 100 kg in the state, India’s largest producer of the oil seeds. Although, the exact deal size was unknown, sources said those who offloaded the stock suffered a loss of Rs 50-60 crore.
Two of Gujarat’s large millers took the delivery. Castor seeds had closed at Rs 3051 per 100 kg on NCDEX on Wednesday before trading was suspended.
Traders from Gujarat told ET that Castor Seeds were sold by farmers at a 5 year low price of Rs 2800 per 100 kg in the state, India’s largest producer of the oil seeds. Although, the exact deal size was unknown, sources said those who offloaded the stock suffered a loss of Rs 50-60 crore.
Two of Gujarat’s large millers took the delivery. Castor seeds had closed at Rs 3051 per 100 kg on NCDEX on Wednesday before trading was suspended.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
