NEW DELHI (Commoditiescontrol) – Mustard seed and oil prices may witness firm trend till the end of July, said Babulal Data, President, Mustard Oil Producers Association (MOPA). He anticipated a hike of Rs. 200-500/100kg in mustard oil prices by the end of July.
Presently, price gap of mustard oil against soya oil, canola and rice bran oil is Rs. 18-20/kg up that is the reason, mixing in mustard oil has risen, added MOPA President. According to him, mustard oil producers have to incur losses around Rs.2-3/kg due to disparity in oil.
Only farmers and rural traders have stocks of mustard seed at present and they are waiting for price hike to liquidate their stocks, that is why arrivals are weak, hence, mustard seed prices are likely to gain support amid weak selling, he further added.
Prices Will Fall On Better Monsoon
Mustard seed Prices may come under pressure after July amid better monsoon rains when farmers and traders in rural area will increase their selling which will help oil industry to reduce their losses due to disparity in mustard oil, said Babulal Data.
(By Commoditiescontrol Bureau; +91-22-40015533)
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