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Bloomberg
Exports of castor oil from India to China may slow on concern the spread of coronavirus will impact port logistics in the world’s most populous country, according to India’s top shipper.
“Some Chinese buyers of castor oil have told us to go slow on shipments as they anticipate ports may be affected because of the spread of coronavirus,†said Abhay V Udeshi, chairman of Jayant Agro-Organics Ltd. It’s too early to estimate impact of the outbreak on the industry, he added
The ongoing spread of the coronavirus in China has rippled through commodity trade flows around the world, with logistical constraints at some Chinese ports holding up
cargoes of agricultural goods.
Also, demand for some foodstuffs including edible oils and meat is expected to be hurt as more people stay at home and avoid big meals at restaurants. Castor oil prices in India fell about 8% to 82 rupees ($1.20) a kilogram (2.2 pounds) in the 10 days since virus news broke.