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

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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Procurement Resource offers in-depth research on product pricing and market insights for more than 500 chemicals, commodities, and utilities updated daily, weekly, monthly, and annually. It is a cost-effective, one-stop solution for all your market research requirements, irrespective of which part of the value chain you represent.

We have a team of highly experienced analysts who perform comprehensive research to deliver our clients the newest and most up-to-date market reports, cost models, price analysis, benchmarking, and category insights, which help in streamlining the procurement process for our clientele. Our team tracks the prices and production costs of a wide variety of goods and commodities, hence, providing you with the latest and consistent data.

To get real-time facts and insights to help our customers, we work with a varied range of procurement teams across industries. At Procurement Resource, we support our clients, with up-to-date and pioneering practices in the industry, to understand procurement methods, supply chain, and industry trends, so that they can build strategies to achieve maximum growth.

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