In good news to Gujarat farmers, after cotton, castor seed prices setting new records

Palanpur: After the skyrocketing of cotton prices, price of castor seeds is setting new records in a good news to farmers. The price of castor seeds at the Rajkot Yard was quoted at Rs 1,511, which is a lifetime high according to the sources in the Rajkot Yard. The yard is receiving 500-600 quintals of the key commodity on an average every day.

At the same time last year, castor seeds were being sold at Rs 920-Rs 980/20 kg. The price of the commodity had never ever crossed the Rs 1,000-mark. The key reason for the price hike in the commodity is that demand outstrips supply.

Castor plants are 2-3 meters high and thrive under dry conditions. However, Gujarat has experienced unseasonal rains which has also damaged the castor crop along with many other harvests.

Castor oil, derived from seeds, finds applications in ayurvedic medicine, preservation of food grains, production of lubricants, and paints. India produces 18 lakh tonnes of castor seeds every year and is the largest exporter. Within India, Gujarat is the largest producer of castor seeds. DeshGujarat