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Mustard Seed Recovers In Spot Market, But Futures Crash Over 3 Percent

24 Nov 2020 7:14 pm
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NEW DELHI (Commodities control) Mustard seed prices recovered today in spot markets after muted trend in last couple of days. However, futures contract crashed by over 3 percent on Tuesday.

Improved demand from millers led to rise in spot prices. The oil seed gained Rs. 30 to Rs. 6355-6360 per quintal in Jaipur. But mustard oil lowered further. Oil cake followed oil seed and inched up.


According to the traders, oil millers came back to the market for fresh buying. They need to fulfil their regular consumption requirements, in order to run the plants. Mustard seed prices increased to Rs. 6355-6360 per quintal in Jaipur. Earlier, it traded at Rs. 6325-6330 per quintal in Jaipur. But
mustard oil fell to Rs. 1231-1222 in Jaipur and 1221-1222 per 10 kg. in adjoining areas. Earlier, the oil was priced at Rs. 1241-1242 in Jaipur and 1231-1232 per 10 kg. in adjoining areas. Mustard oil cake gained to Rs. 2635-2640 per quintal. Earlier, it was traded at Rs. 2625-2630 per quintal.


Total arrival was 100,000 quintal in across the country. State wise arrival- Rajasthan 50,000, MP 8,000, UP 15,000, HP 7,000, Gujarat 5000 and other states 15,000 bags.


Futures market witnessed down trend today. Mustard December contract lost Rs. 185 at Rs. 5970 per quintal. January contract slipped Rs. 165 to settle at Rs. 5951 per quintal. February contract down Rs. 123 at Rs. 5655 per quintal. April contract down by Rs. 79 to Rs. 5050 per quintal


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


       
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