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Spot Mustard Seed Prices Extend Losses As Bearish Trend Prevails

16 Jan 2021 6:30 pm
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NEW DELHI (Commodities control) Mustard seed prices extended losses in spot market of Rajasthan and other producing states as selling pressure remained intact. Mustard seed prices fell down by Rs. 50 to Rs. 6100-6105 per quintal (GST Extra) in Jaipur. Higher production prospects caused for sharp fall in prices in last few days. Mustard oil also followed seed trend. Mustard seed arrival decreased from 75,000 bags to 65,000 bags in all over the country.

Today, stockists and farmers rushed to sell their stock to book profit as they do not see further appreciation. Recent rains in Rajasthan, Madhya Pradesh and Uttar Pradesh and other producing states have improved prospects for mustard seed. There were possibilities for higher mustard production in the country. Higher acreage and recent rains increased prospects for better production. Buyers were absent from the market for fresh buying after better crop prospects. Millers and processors were reluctant for fresh positions as they expect for further downfall in the oil seed prices.

Mustard seed (42 percent condition) was traded at Rs. 6100-6105 per quintal (GST Extra) in Jaipur. Earlier, it was traded at Rs. 6150-6155 per quintal.
Mustard oil prices also decreased to Rs. 1221-1222 in Jaipur and 1211-1212 per 10 kilogram in adjoining areas. Earlier, It was traded at Rs. 1231-1232 in Jaipur and 1221-1222 per 10 kilogram in adjoining areas. Mustard oil cake steadied today to Rs. 2525-2530 per quintal.

Total arrival was 65,000 quintal in across the country. State arrival- Rajasthan 30,000, MP 5,000, UP 10,000, HP 5,000, Gujarat 5000 and other states 10,000 bags.

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

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