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Weak Futures Weigh on Spot Mustard Seed Prices

27 Oct 2020 7:16 pm
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NEW DELHI (Commodities control) Mustard prices steadied today in Jaipur after steep price rise of Rs. 275 per quintal in last one week. Decline in futures prices put a break on price rise in spot markets. Although, mustard oil and oil cake inched up today. The oil seed was stable at Rs. 6095-6100 per quintal, while mustard oil and oil cake were slightly up.

According to the traders, weak demand at higher prices led to a steady rates. Total arrival
was 130,000 quintal in all the major producing areas, due to festival mood.


Mustard seed traded at Rs. 6095-6100 per quintal (42 percent condition) in Jaipur market. Earlier the oil seed was priced at same level. Mustard oil was also moved up to be priced at Rs. 1205-1206 in Jaipur and Rs. 1195-1196 per 10 kg in adjoining areas. Earlier, the oil was sold at Rs. 1204-1205 in Jaipur and Rs. 1194-1195 per 10 kg in adjoining areas. Mustard oil cake rose to Rs. 2600-2605 per quintal. Earlier, It was priced at Rs. 2595-2600 per quintal.


Total arrival was 130,000 quintal in across the country. State wise arrival- Rajasthan 75,000, MP 7,000, UP 15,000, HP 5,000, Gujarat 8000 and other states 20,000 bags.

Rajasthan’s smaller mandis were receiving good quantity of mustard seed. Mustard prices was ruling at lower level for unconditioned oilseed. However, these mandis also registered impressive price rise. Mustard seed traded in Sriganganagar Rs. 5000-5375, Raisinghnagar Rs. 4900-5473 and Adampur Rs. 5645 per quintal.


But futures market witnessed down trend today, due to heavy profit booking. Mustard November contract lost Rs.72 to Rs. 5947 per quintal. December contracts down Rs. 91 to Rs. 5929 per quintal. January contract was down Rs. 87 to settle at Rs. 5855 per quintal.


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


       
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