In the wake of lower international demand, especially from China, exports of castor oil have decreased by almost 10 percent during the first five months of 2022 compared to previous year. As per the data of the Solvent Extractors’ Association of India (SEA), during the first five months of 2021, castor oil exports were around 3,12, 000 Metric Tons (MT) which has declined to almost 2,82,000 MT in the current calendar year.
“China is witnessing industrial disruption post the outbreak of Covid-19 pandemic. As a result, Chinese buying has gone down by almost 30,000 MT. Demands from other parts of the world almost remain the same,” said Atul Chaturvedi, president of SEA. Castor oil and its derivatives are used in many industries including air-conditioning, air-fuel, pharmaceutical, dyes & chemical, soap, paints, inks, plastic, perfumes, adhesive, paper, lubricants, food, rubber and others. With 40 percent share in India’s total exports, China is the biggest buyer of castor oil from India. The USA and the European Countries are also importing castor oil in large quantities from India. Apart from these markets, India also exports castor oil in Middle East and Latin American countries in comparatively smaller quantities. During the current season, India is the largest producer of castor and castor oil in the world with almost 90 per cent share. In India, Gujarat has a lion’s share of 80 per cent in ...
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