NEW DELHI (Commodities control) Steep fall was noticed in spot Mustard seed, oil and oil cake prices in producing states including Rajasthan. Market sentiments dampened as the oil seed arrival reached to 7 lakh bags in across the country. Heavy arrival and slower demand caused for decline in prices. Mustard seed fell down of Rs. 245 to Rs. 5500-5505 per quintal (GST Extra) in Jaipur market. Mustard oil and oil cake also fell down today. Mustard oil seed arrival increased from 5.90 lakh to 7 lakh bags (100 kg each) in all over the country. Mustard future contracts also declined as market sentiments depressed due to heavy arrival in spot market.
According to market sources, heavy arrival dampened market sentiments. The arrival increased and reached to 7 lakh bags per day. Farmers were bringing their crop as they found current prices very attractive. Mustard oil has noted down fall in prices due to heavy selling and limited demand.
Mustard seed (42 percent condition) was traded at Rs. 5500-5505 per quintal (GST Extra) in Jaipur. Earlier, it was traded at Rs. 5745-5750 per quintal. Mustard oil prices was traded at Rs. 1153-1154 in Jaipur and 1143-1144 per 10 kilogram in adjoining areas. Earlier, it was traded at Rs. 1174-1175 in Jaipur and 1164-1165 per 10 kilogram in adjoining areas. Mustard oil cake was traded down at Rs. 2300-2305 per quintal. Earlier, it was traded at Rs. 2465-2470 per quintal.
Total arrival was 700,000 quintal in across the country. State arrival - Rajasthan 355,000, MP 75,000, UP 115,000, HP 20,000, Gujarat 60,000 and other states 75,000 bags.
NCDEX witnessed mixed trend in the oil seed contracts. April contract decreased Rs. 20 at Rs. 5453 per quintal. May contract down Rs. 6 to Rs. 5470 per quintal. June contract up Rs. 3 at Rs. 5508 per quintal.
(By Commoditiescontrol Bureau: +91-22-40015505)
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