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Decline Trend Continues In Mustard Seed, Oil On Heavy Arrival And Bearish Futures

4 Mar 2021 8:23 pm
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NEW DELHI (Commodities control) Mustard seed along with mustard oil and oil cake further declined due to heavy arrival in producing states including Rajasthan. Mustard seed fell down of Rs. 45 to Rs. 5455-5460 per quintal (GST Extra) in Jaipur market. Mustard oil and oil cake also fell down further. Mustard oil seed arrival steadied to 7 lakh bags (100 kg each) in all over the country. Decline trend in mustard and other oil and oilseed future contracts also added bearish factors.



According to market sources, heavy arrival dampened market sentiments. The arrival increased and reached to 7 lakh bags per day. Farmers were bringing their crop as they found current prices very attractive. Mustard oil has noted down fall in prices due to heavy selling and limited demand.



Mustard seed (42 percent condition) was traded at Rs. 5455-5460 per quintal (GST Extra) in Jaipur. Earlier, it was traded at Rs. 5500-5505 per quintal. M
ustard oil prices was traded at Rs. 1134-1135 in Jaipur and 1124-1125 per 10 kilogram in adjoining areas. Earlier, it was traded at Rs. 1153-1154 in Jaipur and 1143-1144 per 10 kilogram in adjoining areas. Mustard oil cake was traded down at Rs. 2275-2280 per quintal. Earlier, it was traded at Rs. 2300-2305 per quintal.



Total arrival was 700,000 quintal in across the country. State arrival - Rajasthan 355,000, MP 75,000, UP 115,000, HP 20,000, Gujarat 60,000 and other states 75,000 bags.



NCDEX witnessed down trend in the oil seed contracts. April contract decreased Rs. 110 at Rs. 5340 per quintal. May contract down Rs. 92 to Rs. 5375 per quintal. June contract down Rs. 79 at Rs. 5414 per quintal.



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


       
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