Castor Oil Prices, Trends & Forecasts | Provided by Procurement Resource

Castor Oil (C57H104O9) is a commonly known vegetable oil extracted from the castor plant’s seeds. The beans are pressed to obtain a colorless or pale-yellow colored oil which is bitter in taste. It contains monosaturated fatty acids, namely ricinoleic acid, linoleic and oleic acids as its key constituents. Primarily, due to the presence of ricinoleic acid, Castor Oil acquires a lot of nutritional value, which empowers its industrial usage on a large scale. The boiling point of Castor Oil measures approximately around 313° C.

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The key importing countries for Castor Oil are the United States, China, and the Netherlands. On the other hand, India, Germany, and the Netherlands are the primary exporting countries.

Key Details About the Castor Oil Price Trend:

Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Castor Oil price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.

Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.

The Castor Oil Price chart, including India Castor Oil price, USA Castor Oil price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.

Industrial Uses Impacting Castor Oil Price Trend:

Castor Oil is known for its laxation feature and is an excellent natural laxative for medicinal use. It stimulates the muscle’s movement in the intestines and helps them keep the track clean. The Food and Drug Administration approves the compound. Depending on the usage, if taken in an appropriate dose, it can treat temporary constipation, whereas overdose can cause diarrhea and vomiting.

Additionally, due to the presence of ricinoleic acid in it, it acts as an excellent moisturizer. This element prevents water loss from the outer layer of one’s skin and thus helps to maintain hydration levels. Castrol Oil is used in cosmetic products like lotions, cleansers, etc. It is affordable and hence, preferred along with coconut or jojoba oil. It is also used for healing wounds, manufacturing soaps, ink, hydraulics and brake fluids, dyes, waxes, nylon, perfumes, lubricants, cleaning and maintaining dentures, etc.

Key Players:

• 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.

News & Recent Development

• Date: March 18,2023– Jamaican farmers are encouraged to use the local castor bean and its derived products. Minister JC Hutchinson says, “There is an opportunity to tap into the high demands of Jamaican Black Castor Oil, noting that the global market for the product is valued at up to US $ 100 Million”.

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