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Spot Mustard Seed Rebounds With Buyers Back In Market, Oil Gains Too

1 Oct 2020 6:52 pm
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NEW DELHI (Commodities control) Mustard seed prices bounced back today after easing on Wednesday. The oil seed rose to Rs. 5630-5635 per quintal. Millers and stockists were buying the oil seed even at higher price because depleting stocks indicating uptrend in price. Today, mustard seed gained Rs. 15 per quintal.

Mustard prices have witnessed constant upside rally, barring yesterday, when prices came down as Delhi high court stayed FSSAI's order to ban blending of other vegetable oils in mustard oil. However prices rebound to head northward today. Millers, stockists and traders were aggressively buying the commodity. Mustard oil also gained today, but oil cake remained stable in spot market.


Mustard seed traded at Rs. 5630-5635 per quintal (42 percent condition) in Jaipur market. Earlier mustard seed was priced at Rs. 5615-5620per quintal. Mustard oil also traded at higher price. Today, Mustard oil was priced at Rs. 1117-1118 in Jaipur and Rs. 1108-1109 per 10 kg in adjoining areas. Earlier, the oil traded at Rs. 1114-1115 in Jaipur and Rs. 1104-1105 in adjoining areas. Mustard oil cake was quoted at Rs 2260-2265 per quintal.


Total arrival was estimated at 125,000 quintal across the country. State wise arrival- Rajasthan 75,000, UP 20,000, HP 5,000, Gujarat 5000 and other states 20,000 bags. There was negligible arrival in Madhya Pradesh.


Futures market witnessed firm trend today. Mustard October contract gained Rs. 62 to Rs. 5530 per quintal. November contracts up Rs. 67 to Rs. 5555 per quintal. December contracts rose Rs. 52 to Rs. 5448 per quintal.

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


       
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