According to the primary survey results, India's total castor output for 2022-23 will be 19.46 lakh tonnes, up 15% from 16.94 lakh tonnes in 2021-22. The estimated sowing area for the year is 9.18 lakh hectares, a 13% increase from the previous year's 8.11 lakh hectares.
The estimated yield for the year is expected to increase by 2% to 2,129 kg per hectare, up from 2,087 kg per hectare the previous year. On Saturday, the survey was released at the Solvent Extractors' Association of India's (SEA) Global Castor Conference in Ahmedabad.
Trade leaders predicted higher global demand for castor derivatives, including oils, during discussions on the castor demand and supply outlook. India is the world's largest producer of castor seeds. Shailesh Baldha, Chairman of the SEA Castor Seed & Oil Promotion Council, highlighted the export prospects, stating that the consuming countries will begin building new inventories as the global supply pipeline is nearly empty. "Right now, stock of castor seed or oil is tight and lower than usual at every level of the supply chain, beginning with farmers, traders, processors, exporters, importers, distributors, and consumers."
"Demand in 2023 is likely to be higher than in the previous year, as consumption numbers improve and inventories are rebuilt to normal levels," said Baldha. According to sources, global demand and increased consumption in the domestic market, including the use of castor meal as fertilizer, will keep prices stable. Prices below 6,250 per quintal may not be remunerative for farmers and may discourage them from selling their crops, whereas a higher price level of 7,250 appeared to be a short-term phenomenon and the market may remain below that level.
Castor prices are quoted at 6,761 per quintal in the spot market at Deesa in North Gujarat. However, farmer sources and traders emphasized that climatic uncertainties will continue to influence prices until the end of April. According to the Agriwatch survey, Gujarat's castor crop will increase by 11% to 16.17 lakh tonnes this year, up from 14.55 lakh tonnes last year. The yield is estimated to be 2,283 kg, thanks to improved water availability in the state's growing districts. The castor area in Gujarat is estimated to be 7.14 lakh hectares, up from 6.52 lakh hectares last year.
Castor output in Rajasthan is expected to be 2.64 lakh tonnes, up from 1.94 lakh tonnes last year, with a yield of 1,793 kg (1,620 kg last year). Acreage in Rajasthan is estimated at 1.49 lakh hectares, up from 1.2 lakh. Castor production in Andhra Pradesh and Telangana is estimated to be 57,000 tonnes, up from 34,000 tonnes last year, with yields of 1,321 kg. Andhra Pradesh and Telangana's total castor area is estimated to be 43,000 hectares.
