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Down Fall Trend Continues In Spot Mustard Seed, Oil, But Futures Gain

27 Nov 2020 7:35 pm
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NEW DELHI (Commodities control) Price fall continued in Mustard seed, oil and oil cake in spot markets of producing states. Buyers and millers cautioned after import duty cut. Depressed buying forced sellers to reduce prices. The oil seed slipped Rs. 70 to Rs. 6000-6005 per quintal in Jaipur. Mustard oil and oil cake also followed seed. Total arrival of mustard seed was 100,000 quintal in all the major producing areas.



According to market sources, panic was visible in spot market after import duty cut on crude palm oil. Buyers were not ready to take new consignment while sellers wanted to sell their stock. Mustard seed prices decreased to Rs. 6000-6005 per quintal in Jaipur. Earlier, it was traded at Rs. 6050-6055 per quintal in Jaipur.
Mustard oil fell down to Rs. 1181-1182 in Jaipur and 1171-1172 per 10 kg. in adjoining areas. Earlier, the oil was priced at Rs. 1206-1207 in Jaipur and 1196-1197 per 10 kg. in adjoining areas. Mustard oil cake decreased to Rs. 2580-2585 per quintal. Earlier, it was traded at Rs. 2600-2605 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.



However, NCDEX witnessed uptrend today. Mustard December contract gained Rs. 47 at Rs. 5862 per quintal. January contract up Rs. 35 to settle at Rs. 5800 per quintal. February contract rose Rs. 53 at Rs. 5600 per quintal. April contract up by Rs. 21 to Rs. 5050 per quintal


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


       
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