NEW DELHI, Jan 21 (Commoditiescontrol) - The fall in the prices of mustard in the mandis of Rajasthan and other producing states continued for the second day on Friday. Today there was a decline of Rs 75/quintal in mustard. Its meal also traded softly. But mustard oil moved higher due to strong domestic demand.
Mustard is under pressure due to the clearing up of the weather in some states including Rajasthan. It is being said that if there is good sunlight, then it can increase the yield of mustard. Weakening of demand at higher prices and increased selling also put pressure on the price. There was no trading in mustard in futures trade. Malaysian palm oil and Dalian edible oil complex were showing strength. It is believed that mustard oil is also getting support from the firmness in edible oils globally.
Today, 42 percent condition mustard is being sold in Jaipur at Rs 8125-8150 per quintal (GST exclusive). Whereas in the last session, mustard was sold at Rs 8200-8225 per quintal. The daily arrival of mustard in mandis across the country stood at 1.35 lakh bags (80 kg per bag) as on Thursday.
Palm oil for February delivery was recorded at $1425 a tonne at Kandla Port. Soyoil Degum February delivery quoted at $1480 per tonne. Crude palm oil is being sold at Kandla port in Indian rupees at Rs 1153 and soyoil Degum at Rs 1170 per ten kg. Whereas in the last session, crude palm oil was sold at the port at Rs 1148 and soyoil Degum at Rs 1165 per ten kg. There was no trading in mustard, soybean and soyoil contracts on the NCDEX. New positions are not allowed in many essential commodities including edible oils, oilseeds.
Meanwhile, the weather tuned sunny in some areas of Rajasthan while the areas affected by frost have reduced. According to a Bundi trader, if there is good sunshine for 10-15 days, then the mustard crop will be benefited. Due to the possibility of increasing production in the next crop, buying from the plants has fallen. While the stockists are trying to clear the stocks at the fag end of the season.
Mustard oil is being sold in Jaipur at Rs 1674-1675 and in other mandis at Rs 1664-1665 per 10 kg. In the last session, oil was sold in Jaipur at Rs 1664-1665 and in other mandis at Rs 1654-1655 per 10 kg. Mustard meal is being sold at Rs 2975-3000 per quintal. In the last session, mustard meal was sold at Rs 3000-3025 per quintal.
The arrival of mustard stood at 1.35 lakh bags across the country. Mustard arrival was 50 thousand bags in Rajasthan, 20 thousand bags in Madhya Pradesh, 25 thousand bags in Uttar Pradesh, 5 thousand bags in Himachal Pradesh, 5 thousand bags in Gujarat and 30 thousand bags in other states.
(By Commoditiescontrol Bureau: +91-22-40015505)
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