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Sluggish Trend Continues In Spot Mustard Seed

7 Dec 2017 2:25 pm
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MUMBAI(Commoditiescontrol) - 

Mustard Seed:
Mustard seed declined by Rs 10 to trade at Rs 4,180/100kg in benchmark Jaipur market amid sluggish demand.
Millers are reluctant to procure mustard seed at current price level as they are facing disparity of around Rs 700/tonne in crushing of mustard seed.
In addition to it, weather has become favourable for the proper growth of the new mustard crop which is also weighing on mustard seed prices.
Mustard seed arrivals across the country totaled at 1.75 lakh bags (85kg each) unchanged on previous session. 
On derivatives, the benchmark January mustard seed was down by Rs 33 or 0.81 percent at Rs 4,048/100kg on the National Commodity & Derivatives Exchange Ltd.

Mustard Oil 

Mustard kachhi ghani oil declined by Rs 4 to trade at Rs 817/10kg in benchmark Jaipur market amid sluggish demand and tracking weakness of other edible oils.
As per traders demand of mustard oil in retail market is hand to mouth as other edible oil are trading at discount of around Rs 100-120/10kg to mustard oil. Thereby, most of the demand is shifting to those oil’s.
On the other hand, Statistics Canada predicted this year's Canola production in Canada would hit 21.3 million tons, up by 8% from their earlier estimate in September which will increase the availability of Canola Oil which is bearish for Indian mustard oil market. 

India imported around 37,468 tonnes of canola oil in November compared to 15,491 in October.

Mustard Oil Cake 
Mustard oil cake price gained by Rs 5 to trade at Rs 1,805/100kg amid improved demand from cattle feed manufacturer.   
(By Commoditiescontrol Bureau; +91-22-40015533)

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