India: Castor seed prices expected to rise by 10% due to strong demand despite southwest monsoon

Updated Jun 1, 2021
Cyclone Tauktae has devastated crops spread over 20,664.73 ha in Kerala, which has led to losses of around Rs 7.61 billion for farmers. Private weather forecaster Skymet’s President G.P. Sharma does not expect cyclones or any other disturbances to play spoilsport for the route and trajectory of southwest monsoon currents. He expects the currents to reach the Indian mainland and progress well into the Jun-Sep wet season. Farmers in the country have sown summer crops across 8.04 million ha in 2020-21 (Jul-Jun), up over 21% on year, farm ministry data shows. Mixed trend was witnessed in spices complex on NCDEX on Friday. Turmeric June futures were up on short-covering; expectation of fall in acreage this kharif season lend support as well. Coriander and Jeera June futures, in the meantime, posted losses on tepid demand. The Spices Board pegs Apr-Dec 2020 jeera exports at 221,000 tonnes. A ...
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