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Spot Mustard Seed Inches Up Further Despite Bearish Futures, Oil, Cake Steady

24 Feb 2021 7:56 pm
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NEW DELHI (Commodities control) Spot mustard seed prices inched up further in producing states including Rajasthan. Mustard demand revived at lower prices. Millers, processors and stockists were buying regularly. However, earlier months future contracts fell down in NCDEX on investors’ selling. Mustard oil and oil cake prices steadied today. Mustard oil seed arrival was stable at 4.50 lakh bags (100 kg each) in all over the country.

According to market sources, stockists and millers were actively buying. They felt that the oil seed will see further higher prices. They found current price level reasonable for stocking. As per market fundamental, mustard prices are not likely to fall at very low level.

Mustard seed (42 percent condition) was traded at Rs. 6125-6130 per quintal (GST Extra) in Jaipur. Earlier, it was traded at Rs. 6100-6105
per quintal. Mustard oil prices was traded stable at Rs. 1241-1242 in Jaipur and 1232-1233 per 10 kilogram in adjoining areas. Mustard oil cake was also stable at Rs. 2520-2525 per quintal.

Total arrival was 450,000 quintal in across the country. State arrival - Rajasthan 185,000, MP 55,000, UP 80,000, HP 10,000, Gujarat 60,000 and other states 60,000 bags.

NCDEX witnessed mixed trend in the oil seed contracts. April contract decreased Rs. 12 at Rs. 5458 per quintal. May contract down Rs. 16 to Rs. 5475 per quintal. May contract gained Rs. 64 at Rs. 5480 per quintal.

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

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