India, which accounts for ninety percent of the global supply by producing approximately two million tons of castor seeds annually, has initiated the World Castor Sustainability Forum (WCSF). The initiative aims to establish a sustainable, traceable castor supply chain that enhances the economic, social, and environmental aspects of production.
BV Mehta, Executive Director of the Solvent Extractors’ Association of India (SEA), stated that the formation of WCSF was motivated by the global trend towards renewable resources and heightened sustainability awareness. The initiative is designed to boost economic independence and improve the livelihoods of small-scale farmers.
Companies adopting WCSF’s sustainability protocols in accordance with the Indian Companies Act stand to gain benefits such as enhanced brand recognition, competitive edge, cost reductions, easier access to capital, compliance with regulations, risk mitigation, and the generation of sustained value.
As reported by businessline, India’s exports of castor oil and its derivatives are valued at more than ₹12,000 crore annually. Given that the worldwide market for castor derivatives is valued at over $4 billion each year, it heavily relies on Indian production.
