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Down Trend Continues In Spot Mustard Seed, Prices Slip Rs. 200/Q In Two Days

13 Jan 2021 6:08 pm
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NEW DELHI (Commodities control) Down trend continued in mustard seed prices, today in spot market of Rajasthan and other producing states. The oilseed lost Rs. 200 per quintal in last two days. Mustard seed fell Rs. 75 per quintal in Jaipur. Bearish trend is likely to continue as buyers were reluctant at higher prices. Mustard oil and oil cake also followed seed trend. Downfall in majority of mustard future contracts also dampened market sentiments. Mustard seed arrival reduced from 75,000 bags to 60,000 bags in all over the country.



Recent rains in Rajasthan, Madhya Pradesh and Uttar Pradesh and other producing states have improved prospects for mustard seed. There were possibilities for higher mustard production in the country. Higher acreage and recent rains increased prospects for better production. Buyers were absent from the market for fresh buying after better crop prospects. Millers and processors were reluctant for fresh positions as they expect for further downfall in the oil seed prices.



Mustard seed (42 percent condition) was traded at Rs. 6400-6405 per quintal (GST Extra) in Jaipur. Earlier, it was traded at Rs. 6475-6480 per quintal.
Mustard oil prices also decreased to Rs. 1260-1261 in Jaipur and 1250-1251 per 10 kilogram in adjoining areas. Earlier, It was traded at Rs. 1274-1275 in Jaipur and 1264-1265 per 10 kilogram in adjoining areas. Mustard oil cake eased down today to Rs. 2575-2580 per quintal. Earlier, it was traded at Rs. 2600-2605 per quintal.



Total arrival was 60,000 quintal in across the country. State arrival- Rajasthan 25,000, MP 5,000, UP 10,000, HP 5,000, Gujarat 5000 and other states 10,000 bags.



NCDEX also witnessed bearish trend in the oil seed contracts. Mustard January decreased Rs. 79 to settle at Rs. 6226 per quintal. February contract down Rs. 109 at Rs. 5700 per quintal. But April contract up Rs. 29 to Rs. 5213 per quintal. May contract was traded lower.

 

(By Commoditiescontrol Bureau: +91-22-40015505)


       
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