Castor Oil Price Trend and Forecast

Castor Oil Regional Price Overview

Get the latest insights on price movement and trend analysis of Castor Oil in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

 

Castor Oil Price Trend for the Q1 of 2024

Product Category Region Price Time Period
Castor Oil Agriculture, Farming and Commodity India 1465 USD/MT (FOB) January 2024
Castor Oil Agriculture, Farming and Commodity India 1460 USD/MT (FOB) March 2024


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Castor oil prices witnessed a vacillating price trend throughout the given period. Various geopolitical disturbances influenced the global markets differently. Some nations imported fewer stocks because of freight issues, while some export countries had excess stocks.
 

Castor Oil Price Chart

Castor Oil Price Trends and Forecast

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According to the Solvent Extractors Association of India (SEA), India is estimated to see an approximate 9% growth in castor seed production this year. This, amidst low international queries, pushed the prices down slightly in the domestic markets. In the Indian domestic markets, the monthly average prices went from about 1465 USD/MT (FOB) In Jan’24 to around 1460 USD/MT (FOB) in March’24. Overall, a lukewarm market performance was witnessed during the said span in the international castor oil markets.

Analyst Insight

According to Procurement Resource, the Castor Oil prices are likely to rise in the coming month. An incline in demands, especially from the beauty and healthcare industries, is expected.
 

Castor Oil Price Trend for the October - December of 2023

Product Category Region Price Time Period
Castor Oil Agriculture, Farming and Commodity India 1496 USD/MT (FOB, India) October’2023
Castor Oil Agriculture, Farming and Commodity India 1455 USD/MT December’23


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Castor oil prices experienced a swift dip in the terminal quarter of the year 2023. Since castor oil is derived from castor seeds, the price trend are closely aligned for both. Castor crop requires less water to grow, so semi-arid regions like Gujrat and Rajasthan are apt for castor cultivation. At the global level, India and the Philippines are the major suppliers. China, Brazil, and Russia are also among the leading producers.

However, during the discussed span of Q4’23, the castor oil industry witnessed some fall in market demands as the inventories were being regularly supplied, resulting in overflow. In the Indian castor oil market, the monthly average prices went from around 1496 USD/MT (FOB, India) in October to about 1455 USD/MT in December’23, exhibiting a marginal decline of around 2%. Overall, borderline stagnancy was witnessed in the castor oil market during the said time period.

Analyst insight

According to Procurement Resource, the market analysis suggests positive projections for the Castor Oil market in the coming months. The demands from the skincare, healthcare, and food industries are expected to see a rise.
 

Castor Oil Price Trend for the July - September of 2023

Castor Oil, as the name suggests, is extracted by cold-pressing castor seeds. Because of its various health benefits, castor oil is widely used in various food, pharma, skincare, cosmetics, etc. industries. Since India is the biggest exporter of castor oil, the market behavior here is reflected in the global castor oil price graphs.

During the said period of the third quarter of the year 2023, the Indian market dynamics for castor oil were observed to be fairly stable and positive. Some occasional demand-driven fluctuations were seen but were limited to a very narrow range. The price of castor oil averaged around 1526 USD/MT (FOB, India) in September’23. Both domestic and offshore demands were flourishing. A healthy supply and demand equation was observed for castor oil throughout the said quarter.

Analyst Insight

According to Procurement Resource, the price trend for Castor Oil are likely to fluctuate in the coming months since the inventory stocks will start dominating the market outlook, given the current demand variations.

Procurement Resource provides latest prices of Castor Oil. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.

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About Castor Oil

Castor oil or Ricinus Oil is a vegetable oil derived from Ricinus communis, a common plant native to the Eastern regions of the world. It is a viscous oil that appears to be clear, colourless to amber or greenish and has a subtle distinct smell. It is widely known for its laxative properties and has many other applications.

Castor Oil Product Details

Report Features Details
Product Name Castor Oil
Industrial Uses In the production of hair oils, cosmetics, fungistatic (fungus-growth-inhibiting) compounds, paints, cold-resistant plastics, printing inks, embalming fluid, dyeing aids, soap, lubricants, perfumes, pharmaceuticals, waxes, greases and hydraulic brake fluids, and textile finishing materials; as a food preservative, additives, and flavouring; in packaging, and mould inhibitors of food items.
Chemical Formula C57H104O9
CAS Number 8001-79-4
Synonyms Castorbean oil, 8001-79-4, Ricinus oil, Oleum Ricini, Oil of palma christi, Ricinus communis oil, Tangantangan oil, Cosmetol, Crystal O
HS Code 15153090
Molecular Weight 933.43026 g/mol
Supplier Database HOKOKU Co., Ltd, Jayant Agro-Organics Limited, Thai Castor Oil Industries Co., Ltd., Tongliao Tonghua Castor Chemical Co., Ltd., Taj Agro Products Limited, Kanak Castor Products Pvt., Ltd., Liaoyang Huaxing Chemical Co., Ltd.
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand

Europe: Germany, France, United Kingdom, Italy,  Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece

North America: United States and Canada

Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-degree analyst support after report delivery


Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.

Castor Oil Production Processes

Castor oil is obtained by screw pressing dehulled and cleaned castor seeds. The seeds are cooked, dried, and then pressed to extract the oil.

Methodology

The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

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