India`s exports of castor oil rose by 2.5% on year - Geojit Financial
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CASTOR SEED
· Farmers in the country have sown kharif crops across 110.0 mln ha so far in the 2021-22 (Jul-Jun) season, down nearly 1% from a year ago. Farmers have sown castor across 696,000 ha in the 2021-22 (Jul-Jun) season, down by 5.2% from a year ago, according to farm ministry.
· According to the first advance estimates for 2021-22 (Jul-Jun), castor seed output is seen at 1.598 mln tn as against the target of 1.867 mln tn.
· As the monsoon season is inching closer to the end, we are looking at another year of normal monsoon. The overall rainfall over the country has so far increased to 98% of the long-period average from 91% on Sep 1. Since Jun 1, the country has received 834.5 mm rainfall, 2% below the normal of 854.7 mm for the period.
· India's castor meal exports in July fell by 39% at 18,160 tn, compared with 29,940 tn a month ago, according to data by The Solvent Extractors Association of India.
· India's exports of castor oil rose by 2.5% on year to 50,765 tn in August compared to same period last year, according to SEA. Exports were at 49,573 tn during the same period last year.
· Castor seed production in the country is expected to fall to 1.78 mln tn in 2020-21 (Jul-Jun) from the previous estimate of 1.90 mln tn, according to the third survey commissioned by The Solvent Extractors' Association of India. Production of castor seed in the country is likely to fall by 2.6% on year to 1.90 mln tn in 2020-21 (Jul-Jun), according to a survey conducted by the Solvent Extractors' Association of India. The production was pegged at 1.95 mln tn last year. The farm ministry has pegged castor seed production at 1.72 mln tn, down from 1.85 mln tn last year.
· According to the fourth advance estimates for 2020-21 (Jul-Jun), castor seed output is seen at 1.651 mln tn compared with 1.842 mln tn in 2019-20, according to the data released by the farm ministry. While, according to traders, crop is seen at 1.5-1.6 mln tn.
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