MUMBAI(Commoditiescontrol) - A steady tone was observed in mustard meal at the key Jaipur market of Rajasthan due to limited demand from cattle feed manufacturers.
Mustard meal was steady at Rs 15,700 per tonne during the week ended February 11.
A trader from Jaipur said that demand from cattle feed manufacturers was limited during the week as they have shifted to other oil meals due to availability at reasonable according to protein content.
Spread between soymeal and mustardmeal is at Rs 7,700 per tonne, but as per market participants this spread should increase to Rs 9,000, then only we may see revival in demand of mustardmeal.
The upcoming new mustard crop is in good condition and market participants are expecting production in the range of 65-70 lakh tone which is sufficient to meet the domestic as well as export demand due to which prices of mustardmeal may remain under pressure.
Export demand is improving at lower level due to which prices have not fallen sharply in recent time.
However traders are having carry over stock of around 1-1.5 lakh tonnes as of February 1, 2017, so if there is robust export in coming days then only mustard meal may appreciate.
India mustard meal was last priced at $240 FAS Kandla vs $222 Hbg ex. Mill (Mar) which is in disparity of $22 due to which export of mustard meal is low.
(By Commoditiescontrol Bureau; +91-22- 40015516)
0 Comments 
Post Comment 
