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Spot Mustard Down A Tad On Slow Demand In Mustard Oil/Cake

10 Aug 2018 1:38 pm
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MUMBAI (Commoditiescontrol) - Mustard seed prices declined at the key markets across Rajasthan on Friday due to slow demand in mustard oil and mustard cake and weak cues from futures.

Mustard seed 42% condition dropped by Rs 10 to Rs 4,355-4,360/100kg at thebenchmark Jaipur market, while mustard oil fell by Rs 2 to Rs 872-873/10kg. Mustard cake also fell by Rs 15 to Rs 1,785-1,790/100kg.


Demand in mustard oil during the recent times was said to be slow due to higher price and thus prices of oilseed was under pressure. Further offtake in mustard was also said to subdued due to higher disparity in crushing, said a trader from Jaipur.


Mustard crush disparity today stood in negative territory at Rs 435 per tonne.


The negative disparity resulted slow crushing in the month of July. Mustard crushing in July month dropped to 4.5 lakh tonnes as against 6.5 lakh tonnes a month ago.


The disparity in mustard seed and slow demand in mustard oil has increased blending during the last couple of months as mustard oil is costlier than rivals in oil complex, he said.


Mustard crushing in August month is also likely to remain slow around 4-4.5 lakh tonnes as demand in mustard oil as well as mustard cake is not very encouraging, but thereafter some recovery can't be ruled out ahead of festival demand, he noted.


Mustard seed arrivals in the country today stood steady at 1.35 lakh bags (85kg each).


On derivatives, mustard seed August futures rose today by 0.52%, or Rs 21 to Rs 4,080/100kg on the National Commodity & Derivatives Exchange Ltd (NCDEX). Mustard seed futures as on Thursday of this week dropped by 1.4%.


(By Commoditiescontrol Bureau; +91-22-40015533)

       
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