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Castor Seed News - Difficulty for Domestic Castor Oil Industry after Domestic and International Demand for Castor Oil gone Down Drastically.
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Difficulty for Domestic Castor Oil Industry after Domestic & International Demand for Castor Oil gone Down Drastically.

Due to slowdown in global economy as the aftereffects of Covid-19, the manufacturing & trading activities have gone down. This lead to drastic decline in the International exports of Castor Oil. In 2018-19 we exported 5.7 lakh tons of Castor Oil, whereas this export came down to 5 lakh tons.   During this current year reports of exports is not very encouraging. It is very remarkable that India is the largest producer of Castor in the world. And India is also the largest exporter of Castor in the international market. So in one sense India has established its near monopoly in International Castor Market. According to industry analyst the exports in April compared to March declined by 2.5% to 30000 tons. On the similar line there is very strong probability that exports would decline in May as well. According to market source, the export of castor oil in the month of May is likely to decline by50% as compared to last month. According to director of SEA, the major reason for decline in export is slow down in the automobile sector

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