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Mustard Rises 2% as Plants' Buying Improves at Lower Prices

2 Dec 2021 5:52 pm
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NEW DELHI, Dec 2 (Commoditiescontrol0 - Mustard prices gained by Rs 150 or two percent in Rajasthan and other producing states on Thursday, after remaining sluggish for nearly a week, due to improved demand at lower prices and amid tight supply. Mustard oil and meal also moved higher by up to one and a half percent. However, December contract of mustard continued to decline in futures trade. Soyoil refined contracts also eased while soybean strengthened.

Globally, CBOT soybean and soymeal closed with firmness, while softening in crude oil kept soyoil under pressure in the previous session.

Today, 42 percent condition mustard is being sold in Jaipur at Rs 8150-8175 per quintal (GST exclusive). In the last session, 42 per cent condition mustard was sold in Jaipur at Rs 8000-8025 per quintal (GST exclusive). The arrival stood unchanged at 1.85 lakh bags (80 kg per bag) in the mandis across the country.

Palm oil for December delivery at Kandla Port was trading lower at $1370 per tonne from $1395. Soya oil Degum December delivery declined from $1415 to $ 1398 per tonne. In Indian rupees, crude palm oil is being sold at Kandla port at Rs 1106 and soyoil degum at Rs 1155 per ten kg. Whereas in the last session, crude palm oil was sold at the port at Rs 1116 and soyoil Degum at Rs 1170 per ten kg.

According to trade sources, demand for mustard improved at lower prices in the spot mandis. The interest of the plants in buying mustard increased due to the fall in the price for the nearly a week, Along with mustard, mustard oil and meal got strength due to the purchase of plants. Prices also strengthened due to the availability of only 8 lakh tonnes of mustard stock for the next two months of December and January. It is believed that the consumable stock will be even less as one or two lakh tonnes of stock is left every year.

Mustard oil is being sold at the previous price of Rs 1624-1625 in Jaipur and Rs 1614-1615 per 10 kg in other mandis. Whereas in the last session, oil was sold at Rs 1604-1605 in Jaipur and Rs 1594-1595 per 10 kg in other mandis. Mustard meal is being sold at Rs 3225-3225 per quintal. Whereas last day mustard meal was sold at Rs 3175-3200 per quintal.

The arrival of mustard across the country stood at 1.85 lakh bags, unchanged from a day ago. Mustard arrival was 80 thousand bags in Rajasthan, 15 thousand bags in Madhya Pradesh, 35 thousand bags in Uttar Pradesh, 10 thousand bags in Himachal Pradesh, 10 thousand bags in Gujarat and 35 thousand bags in other states. Mustard December futures on the NCDEX were trading lower by Rs 31 at Rs 8050 per quintal.

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

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