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Uptrend Continues In Mustard Seed, Oil Despite Arrival Of 9 L Bags, Futures Also On Rise

8 Mar 2021 8:13 pm
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NEW DELHI (Commodities control) Mustard seed and oil price rise continued in first trading session of current week in spot market of Rajasthan and other producing states. Mustard seed and oil backed by oil complex which has seen sharp rise. Mustard seed jumped Rs. 170 to Rs. 5770-5775 per quintal (GST Extra) in Jaipur market. Mustard oil and oil cake also registered sharp rise. However, Mustard oil seed arrival increased from 7.50 lakh bags to 9 lakh bags (100 kg each) in all over the country.



According to market sources, sharp rise in Soya oil supported mustard complex. Soya oil has seen gains in spot and future market. The price rise has boosted demand of mustard see in spot market. Mustard seed rose Rs. 170 to Rs. 5770-5775 per quintal in Jaipur in morning session. Millers, processors and stockicts came back for buying as they expect upside trend despite heavy arrival.



Mustard seed (42 percent condition) was traded at Rs. 5770-5775 per quintal (GST Extra) in Jaipur. Earlier, it was traded at Rs. 5600-5605 per quintal. M
ustard oil prices was traded at Rs. 1227-1228 in Jaipur and 1217-1218 per 10 kilogram in adjoining areas. Earlier, it was traded at Rs. 1180-1181 in Jaipur and 1170-1171 per 10 kilogram in adjoining areas. Mustard oil cake was traded at Rs. 2340-2345 per quintal. Earlier, it was traded at Rs. 2295-2300 per quintal.



Total arrival was 900,000 quintal in across the country. State arrival - Rajasthan 500,000, MP 90,000, UP 150,000, HP 25,000, Gujarat 60,000 and other states 75,000 bags.



NCDEX witnessed
up trend in the oil seed contracts. April contract increased Rs. 119 at Rs. 5590 per quintal. May contract up Rs. 116 to Rs. 5629 per quintal. June contract gained Rs. 182 at Rs. 5629 per quintal.



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


       
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