ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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High, Not Low

February 3, 1968 Unlike linseed futures which have continued to seek new low levels on prospects of a record harvest, castor futures have continued to move up and down in quite an indecisive fashion for the past few weeks. Castor futures had touched a low of Rs 123.50 on December 29; this rate has not been seen again since then. Though last week the contract was marked down to Rs 125.50, it rallied quickly to Rs 130.50. The relatively steadier tendency in castor futures despite forecasts of a bumper crop is attributable to sustained demand for castor oil for export. Though no important business has been reported recently, there has been fairly keen buying in ready castor oil against outstanding commitments. The export outlook for castor oil seems to be quite promising. At what prices business will materialise, it is difficult to say.

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