India is enhancing castor production’s economic, social, and environmental (ESE) aspects through a traceable and sustainable supply chain.
The country announced the establishment the World Castor Sustainability Forum (WCSF) in February 2024.
Castor facts:
- India, producing around two million tons of castor seeds annually, accounts for 90% of the global supply.
- Annual exports of castor oil and its derivatives, valued at over ₹12,000 crore, significantly contribute to the global market of over $4 billion in castor derivatives.
- Nearly 30 Farmer Producer Organizations (FPOs) have agreed to collaborate with WCSF.
- The collaboration represents about 25,000 farmers joining the movement in its inaugural years, committed to adopting the guidelines set forth by WCSF
Benefits:
The Indian Companies Act allows companies to adopt WCSF’s sustainability protocols.
The benefits include enhanced brand recognition, competitive advantage, cost reduction, easier capital access, regulatory compliance, risk mitigation, and sustained value generation.
Castor and sustainability:
There is potential for promoting intercropping, introducing research-based seed varieties, mechanized harvesting, Eri silk farming, and sustainable castor production. Policymakers are also focusing on reducing carbon footprints and promoting greener products, noted Shailesh Baldha, Chairman, SEA Castor Promotion Council.
Castor meal, a green fertilizer with high NPK content, is limited in India’s use but is exported to Korea, Taiwan, and Japan. It also serves as a fuel replacement for coal due to its calorific value and green nature.
Castor, a pest-resistant, drought-tolerant, and suitable for marginal land cultivation, is a potential investment for future vegetable oil production.
The production of castor oil from Ricinus produces significant press cake, husks, and crop residues, which can be utilized as by-products in a bioeconomy framework.