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Article: Castor Oil Impacted by Exports; Outlook to be Driven by Demand.(Brief Article)
- Article from:
- Chemical Market Reporter
- Article date:
- January 22, 2001
- Author:
CopyrightCOPYRIGHT 2001 Schnell Publishing Company, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CASTOR OIL PRICES declined sharply in the second half of last year, due to decreased export demand. Although pricing has somewhat rallied, industry observers also point to recent erratic pricing, which has further contributed to a more uncertain market.
Prices of castor oil sharply declined in the latter half of 2000 as imports from India decreased substantially with the temporary withdrawal of Brazil and China as buyers, according to some Indian exporters of castor oil. Farmers from both Brazil and China decided to plant more castor seeds due to high prices of castor oil that marked the 1999-2000 marketing year.
The castor oil market was soft late last ...