Jaipur, 23 Feb (Commoditiescontrol) Mustard seed complex turned bearish on Friday, tracking bearish mood from the international edible oil market and increasing supply of oilseed as harvesting season is on full swing.
Arrivals of mustard seed are rising, following which prices are coming under pressure.
At the same time, demand for mustard oil and cake was also low.
Prices of mustard seed with 42% conditioned fell Rs 25 to Rs 5,450-5475 per quintal kachchi (excluding GST), in the benchmark market of Jaipur.
Mustard oil expeller prices dropped Rs 7 to Rs 986-987 per 10kg. Kachchi Ghani prices fell Rs 7 to 996-997 per 10kg. Mustard cake prices dropped Rs 20 to Rs 2600-2605 per quintal in Jaipur.
Total arrivals of mustard seed were around 7 lakh bags across the country, up 10,000 bags from last session. Arrivals of mustard seed were around 2.60 lakh bags in Rajasthan, one lakh bags in Madhya Pradesh, 80,000 bags in Uttar Pradesh, 15,000 bags in Punjab and Haryana and 50,000 bags in Gujarat. The major markets of states received around 95,000 bags of mustard seed. Arrivals of old crop were around one lakh bags today.
At Kandla port, CPO prices stayed gained Rs 5 to Rs 836 per 10kg and RBD palmolein prices were Rs 5 higher at Rs 855 per 10 kg. Soyoil refine prices gained Rs 15 to Rs 910 per 10 kg. Degum prices rose Rs 20 to Rs 845 per 10 kg. Sunflower refine oil prices were flat at Rs 895 per 10 kg.
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