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Mustard Seed Retreats in Jaipur after Steep Hike; Buyers Unwilling at High Price

25 Sep 2020 7:14 pm
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NEW DELHI (Commodities control) - Mustard seed and oil prices retreated, today, after a steep rise in Rajasthan and other mandis of producing states.

Buyers backed out from new purchases due to high prices. Lower buying forced stockists, farmers and other sellers to reduce rates. Mustard oil and oil cake also lowered in the mandis. Near month contracts of Mustard futures increased, while that of later months softened. Mustard complex witnessed steep price rise as government banned blending of other edible oils in mustard oil.

Mustard seed traded at Rs. 5570-5575 per quintal (GST Extra) in Jaipur market. Earlier mustard seed was priced at Rs. 5595-5600 per quintal. Mustard oil also traded at higher price. Today, Mustard oil priced at Rs. 1107-1108 in Jaipur and Rs. 1097-1098 per 10 kg in adjoining areas. Earlier, the oil was priced at Rs. 1112-1113 in Jaipur and Rs. 1102-1103 per 10 kg in adjoining areas.

Mustard oil cake declined Rs. 5 to Rs. 2260-2265 per quintal. Total arrival was estimated at 135,000 quintal across the country. State wise arrivals- Rajasthan 70,000, UP 25000, HP 7,000, Gujarat 8000,and other states 25,000 bags. There was negligible arrival in Madhya Pradesh.

Futures market witnessed mixed trend today. Mustard October contract rose Rs. 8 to Rs. 5425 per quintal. November and December contracts rose up Rs. 15 and 31 per quintal respectively. But January Contract slipped Rs. 40 at Rs. 5389 per quintal.

(By Commoditiescontrol Bureau: +91-22-40015505)

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