MUMBAI(Commoditiescontrol) - A subdued tone was observed in mustard meal at the key Jaipur market of Rajasthan due to poor demand from cattle feed manufacturer.
Mustard meal declined by Rs 400 at Rs 15,000 per tonne during the week ended February 25.
A trader from Jaipur said that demand from cattle feed manufacturers has reduced during the week as they have shifted to other oil meals as they are avilable at reasonable rate as per their protein content.
Further the bumper production of the upcoming mustard crop is also weighing on mustard meal prices.
Spread between soymeal and mustardmeal is at Rs 7,700 per tonne but as per market participant this spread should increase to Rs 9,000 then only we may see revival in demand of mustardmeal.
Export demand has improved at lower level due to which prices have not fallen sharply.
South Korea's largest feed maker Nonghyup Feed Inc. (NOFI) has purchased about 12,000 tonnes of rapeseed meal s in a tender which closed on 10 February 2017, European traders said.
The rapeseed meal was purchased at $239.23 a tonne c&f plus a $1.75 a tonne surcharge for additional port unloading. It was likely to be sourced from India, they said.
The export quantity of mustardmeal is very less and it won’t have any positive impact on price as traders are carrying stock of around 0.50-0.75 lakh tonnes of mustardmeal.
India Mustardmeal price were trading at $232 FAS kandla vs $218 Hbg ex. Mill (Mar) which is in disparity of $14 due to which export of mustardmeal is negligible.
(By Commoditiescontrol Bureau; +91-22- 40015516)
0 Comments 
Post Comment 
