NEW DELHI (Commodities control) Mustard complex further declined due to heavy arrival in producing states including Rajasthan. Mustard seed fell down Rs. 80 to Rs. 5375-5380 per quintal (GST Extra) in Jaipur market. Mustard oil and oil cake also fell down further. Mustard oil seed arrival increased from 7 lakh bags to 7.25 lakh bags (100 kg each) in all over the country. However, Mustard futures contracts gained in NCDEX as it followed bullish oil complex.
According to market sources, heavy arrival dampened market sentiments. The arrival increased and reached to 7.25 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. Down trend continued in mustard seed, oil and oil cake despite gains in futures. It shows impact of heavy supply and weak demand.
Mustard seed (42 percent condition) was traded at Rs. 5375-5380 per quintal (GST Extra) in Jaipur. Earlier, it was traded at Rs. 5455-5460 per quintal. Mustard oil prices was traded at Rs. 1124-1125 in Jaipur and 1114-1115 per 10 kilogram in adjoining areas. Earlier, it was traded at Rs. 1134-1135 in Jaipur and 1124-1125 per 10 kilogram in adjoining areas. Mustard oil cake was traded down at Rs. 2250-2260 per quintal. Earlier, it was traded at Rs. 2275-2280 per quintal.
Total arrival was 700,000 quintal in across the country. State arrival - Rajasthan 380,000, MP 65,000, UP 125,000, HP 20,000, Gujarat 60,000 and other states 75,000 bags.
NCDEX witnessed up trend in the oil seed contracts. April contract increased Rs. 69 at Rs. 5416 per quintal. May contract up Rs. 69 to Rs. 5457 per quintal. June contract gained Rs. 80 at Rs. 5500 per quintal.
(By Commoditiescontrol Bureau: +91-22-40015505)
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