Two days of continuous cellar circuit in castor futures: huge loss to farmers

An atmosphere of turmoil amid a recession

Ahmedabad, Unza, Ta. September 26, 2019, Thursday

In the futures market of Aranda, for the past two days, four-per-cent clerical circuits have been witnessing a huge downturn. With a difference of between Rs 5 and Rs 5 between the present and futures market of the airport, futures have been witnessing a rush of sales of around 1.5 lakh tonnes. To control the recession, the exchange has agreed to implement an additional five percent margin in castor futures from tomorrow.

Castor futures have shown speculation that speculators have dominated the market. In the last two days, the focus has been on the castor market, with fluctuating environment in the market, which has seen sales of four per cent sales slowdown.

A five percent circuit is mounted on the cellar to control casting. In view of the current situation which should be 1 to 5 percent, it has become debatable in the business category.

In this regard, Unza Yard Chairman Dineshbhai Patel said that the castor futures market was speculatively damaging some farmers by artificially breaking the prices and damaging the interests of the farmers. The SEBI and the government have taken immediate steps to ban such trades to ensure that farmers get affordable prices.

If the futures market is in a situation where there is a sell-off, then in the present scenario, prices are expected to fall further to Rs 5 per quintal and in the futures range from 5 to 5, the futures market is still going down. In just counting days, the price of castor has been reduced from 1 to 5, with the market opening up.

Last year, industrial demand was also reduced due to the lack of castor crops. At present, the government and the futures regulator have demanded immediate action as the situation of falling market of farmers is being sold at the wrong prices.