Login ID:
Password:
Partner Login
Contact Us : 7066511911

Spot Mustard/Mustard Oil A Tad Up On Some Renewed Buying

6 Dec 2018 4:04 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

MUMBAI (Commoditiescontrol) – Mustard seed and mustard oil traded a tad up at the benchmark Jaipur market of Rajasthan on Thursday on renewed buying at the lower level. However, mustard cake slipped on slow demand.

Mustard seed 42% condition was up Rs 5 at Rs 4,160-4,165/100kg at Jaipur, while mustard oil moved up a tad at Rs 817-818/10kg. Mustard meal, on the other hand dropped by Rs 10 at Rs 1,875-1,880/100kg.

Mustard seed arrivals in the country stood unchanged at 1.20 lakh bags (85kg each).

Demand for mustard seed was slightly better today as crushers were encouraged after good mustard meal export data for November month.

According to the Solvent Extractors’ Association of India, the country has shipped 56,089 metric tonnes (MT) of mustard meal in November, up from 34,830 MT a month ago in October.

Exports of mustard meal from April-November almost doubled at 7.45 lakh tonnes versus 3.92 lakh tonnes in the same period last year.

Exports of mustard meal to China has yet not started despite of five units approved by
General Administration of Customs of the People’s Republic of China, GACC ( formely AQSIQ) as registration is yet to take place with China Ministry of Agriculture (MoA), said Dr B.V Mehta, Executive Director, SEA.

However demand in mustard oil at present is said to be hand to mouth as it is costlier compared with palm and soy oil, but traders believe that it will improve in the coming weeks, but upside is likely to be limited.

Meanwhile, market participants are now mainly focusing on rabi sowing, which has so far remained good and experts expect acreage to rise around 5-10% this season.

Mustard seed January futures dropped 0.2%, or Rs 7 at Rs 4,004/100kg on the National Commodity & Derivatives Exchange Ltd (NCDEX).

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


       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Top | Post Comment  

Latest Market Commentary
India Soybean Arrivals As On 20 May
Mustard Seed Arrival As On 20 May
Malaysia's May 1-20 Palm Oil Exports Up 13.03% MoM - IT...
CBOT Soybean Futures End Down On Trade Talks Uncertaint...
Malaysian PM Cash Market Prices for Palm Oil May 17
more
Top 5 News
Tur/Tur Dal Continues To Trade Higher At Major Markets
Spot Jeera Prices Remain Steady Amid Matching Demand an...
Spot Coriander Rules Steady To Weak On Subdued Futures
Burma Tur Widen Losses At Close In Mumbai
Domestic Sugar Prices Mixed On Selective Demand
Top 5 Special Reports
WEEKLY: Selling Pressure In Cardamom May Appear At Exis...
WEEKLY: Uptrend May Continue In Coriander Prices
WEEKLY: Jeera Prices Likely To Remain Firm On Export De...
Technical: Turmeric Nizambad-Swing Bottom Appears To B...
Technical: Black Pepper-Garbled Kochi- Expect Support ...
Copyright © CC Commodity Info Services LLP. All rights reserved.