Castor oil is a vegetable oil, which is pressed from castor beans. It is a colourless or pale yellow liquid in appearance and has a distinct smell and taste. The boiling point of 313°C and its melting point ranges from -2°C to -5°C.
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The refractive index of castor oil is 1.480 and its flash point is 145 °C. The density of castor oil is 0.95 g/cm3. It is good for the skin and face.
It is an active ingredient in various household products, from paints to cleaning products. It is native to tropical areas such as Asia and Africa. It has anti-microbial and anti-inflammatory properties.
The top castor oil exporting countries are Pakistan, Myanmar, the United States, Israel, Nigeria, South Africa, Peru, and South Africa.
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 trend, 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 primarily employed in various applications such as adhesives, surfactants, cosmetics, personal care, wax substitutes, and plasticisers. It is also used in ink, perfumes, greases, food, chemical, and pharmaceuticals.
It also finds its application in the production of soaps, lubricants, hydraulic and brake fluids, nylon, polishes, and resistant plastics.
Other than that, it is used in the synthesis of renewable monomers and polymers. Castor oil has the ability to reduce atmospheric moisture pick-up during mixing and handling, therefore it is an essential additive.
Key Market Players:
- Thai Castor Oil Industries Co., Ltd.
- Tongliao Tonghua Castor Chemical Co., Ltd.
- RPK Agrotech
- Adani Wilmar Ltd.
- Hokoku Corporation
- Taj Agro Products Limited
- N.K. Proteins Pvt., Limited
- Kanak Castor Products Pvt., Ltd.
- Liaoyang Huaxing Chemical Co., Ltd.
- Girnar Industries
- Jayant Agro Organics Limited
- Gokul Agri International Ltd.
- BOM Brasil Oleo de Mamona Ltda
News and Events:
- March 22, 2022: The National Commodity and Derivatives Exchange (NCDEX) launched trading in the futures contracts on refined castor oil. The launch of refined castor oil and castor seed will enhance the castor complex in the future segment of NCDEX.
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