India has launched the World Castor Sustainability Forum (WCSF). This initiative aims to provide a sustainable and traceable supply chain of castor while improving economic, social, and environmental performance.
Key points
- India produces about 20 lakh tonnes of castor seed per annum meeting over 90 per cent of the global demand for castor oil.
- Nearly 30 Farmer Producer Organizations (FPO) agreed to collaborate with WCSF on April 30. This collaboration represents approximately 25,000 farmers joining the movement in its inaugural year, committed to adopting the guidelines set forth by WCSF.
- India’s export of castor oil and derivatives are estimated above ₹12,000 crore ($1.5 billion) per annum.
- The global castor derivatives market, which is estimated to be over $4 billion per annum, is highly dependent on India.
About Castor plant
- Castor plant (Ricinus communis) is grown in arid and semi-arid regions.
- It is cultivated in 30 different countries on a commercial scale, of which India, China, Brazil, Russia, Thailand, Ethiopia, and Philippines are major castor seed growing countries which accounts for about 88% of the world’s production.
- In India it is a Kharif crop, sowing in July-August and arrivals from December onwards till March.
- Gujarat is the chief producing state, having a share of 86% of domestic production, followed by Andhra Pradesh and Rajasthan.
- There is no MSP for castor seed as on today.
