During this year`s ICOA the current situation in the Castor complex and the upcoming Monson was presented and discussed extensively:
- At first there was a general overview about food crops, which are used for the food production. They paid special attention to the strong food crops such as rice, corn and rapeseed. In total the agriculture sector rises up to 10, 7 %.
- For the decision which products are sown, the farmers are responsible. But before they prepare the Castor beans prior to planting, the farmers extensively check the international market situation and don´t sow arbitrary. Under the following conditions every farmer makes his plans for the upcoming planting / monsoon season:- current market price - net return - monsoon conditions - irrigation - financial constraints - labor availability - crop rotation - ease of storage of crop - price history + availability
- In the last decade the crop area, in Gujarat, the state with the largest coastline of India, was enlarged to 34 % that in future the cultivation of food crops is secured. This has the advantage that the farmers have several products available over the whole year, and they can save and achieve their income with different products.
- Only during the months of June 2014 and July 2014 we will learn more about the exact planting intentions in India. We will report extensively, and transparently; as you are accustomed from OPW Ingredients GmbH.
- The India Meteorological Department (IMD) predicts a slight delay in the Monsoon. IMD reported on REUTER: that due to El Nino patterns the 2014 Monsoon will only hit the South-West coast between 5th and 9th June 2014.In case of further delays and in case the rainfalls will be low this will have an impact on the sowing intentions, and could lead to higher prices in the 2014/15 season.
- The below weather map depict the prospective path of the upcoming 2014 Monsoon. Only toward the End of June 2014 (respectively towards week 25/26) we should expect the rainfalls to hit the major Castor growing regions.