Jaipur, 5 March (Commoditiescontrol) Mustard seed, oil and cake prices dropped in the physical market on Tuesday extending losses due to weak demand and high supply as peak harvesting season is in progress.
Arrivals of mustard seed are likely to increase further in the coming days following which prices are likely to remain under pressure. However, govt is going to begin procurement of oilseed in few states which will support its prices.
Prices of mustard seed with 42% conditioned dropped Rs 25 to Rs 5,375-5400 per quintal kachchi (excluding GST), in the benchmark market of Jaipur.
Mustard oil expeller prices declined Rs 8 to Rs 996-997 per 10kg. Kachchi Ghani prices were also dropped Rs 8 to 1006-1007 per 10kg. Mustard cake prices fell Rs 5 to Rs 2485-2490 per quintal in Jaipur.
Total arrivals of mustard seed were around 9 lakh bags across the country, up 1.75 lakh bags from last session. Arrivals of mustard seed were around 3.75 lakh bags in Rajasthan, 1.40 lakh bags in Madhya Pradesh, 1.40 lakh bags in Uttar Pradesh, 25,000 bags in Punjab and Haryana and 65,000 bags in Gujarat. The major markets of states received around 1.55 lakh bags of mustard seed.
At Kandla port, CPO prices were flat at Rs 870 per 10kg and RBD palmolein prices were also flat at Rs 890 per 10 kg. Soyoil refine prices at Rs 945 per 10 kg. Degum prices fell Rs 5 to Rs 880 per 10 kg. Sunflower refine oil prices were quoted Rs 15 down at Rs 930 per 10 kg.
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