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Mustard complex continues its bullish trend

28 Jun 2022 2:01 pm
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Jaipur, June 28 (Commoditiescontrol) Mustard complex continued its bullish trend amid positive sentiment on Tuesday. The millers have raised their buying after recent fall in the prices of the commodity. In the international market, prices of soybean and oil were firm on the CBOT tracking positive cues from crude oil but Malaysian palm oil eased.

Malaysian palm oil futures eased on Tuesday, weighed down by expectations of rising production and fears of recession.

The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange slid 14 ringgit, or 0.28%, to 4,908 ringgit ($1,116.22) a tonne by the midday break.

Palm had jumped 5% on Monday.

The Southern Peninsula Palm Oil Millers' Association (SPPOMA) estimated June 1-25 production to rise 17.19% from the previous month, traders said on Monday.

Prices of 42 % conditioned mustard rose Rs 50 to Rs 7125-7150 per quintal (GST excluding) in the benchmark market of Jaipur.

Mustard oil expeller was offered Rs 10 higher at Rs 1432-1433 per 10 kg and Kachhi Ghani prices also traded Rs 10 higher at Rs 1442-1443 per 10kg. Mustard seed cake prices gained Rs 25 to trade at Rs 2700-2725 per quintal.

Arrivals of mustard seed across the country were around 3.15 lakh bags of 80 kg each, down 15000 bags from the last year.

The major markets of Rajasthan received 1.50 lakh bags of mustard seed and arrivals of mustard seed were 25,000 bags in Madhya Pradesh, 50,000 bags in UP and 35,000 bags in Haryana and Punjab, 10,000 bags in Gujarat and 45000 lakh bags in other markets.

(By Commodities control Bureau; +91 9820130172)

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