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Mustard Seed Complex Continues Bearish Trend Amid Weak Demand

22 Jun 2024 1:49 pm
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Jaipur, June 22 (Commoditiescontrol) - The mustard seed complex extended its downward trajectory for the second consecutive day on Friday, driven by subdued demand from processors and stockists.

The benchmark market of Jaipur witnessed a decline in prices for 42% conditioned mustard seed, falling Rs 25 to Rs 6050-6075 per quintal (excluding GST). This marked a reversal from the two days of upward movement seen earlier in the week.

Mustard oil expeller prices also softened, dropping Rs 3 to Rs 1151-1152 per 10 kg. Kachchi Ghani prices followed suit, declining by the same margin to Rs 1162-1162 per 10kg. Mustard cake prices remained steady at Rs 2665-2670 per quintal in Jaipur.

Other markets in the country reflected a similar trend, with mustard seed prices falling Rs 25 to Rs 5900-5950 per quintal and mustard oil expeller prices down Rs 5 to Rs 1140 per 10kg. Some markets even saw a sharper decline of Rs 50 for mustard seed, reaching Rs 5850-5900 per quintal, while mustard cake prices dipped Rs 10 to Rs 2650 per quintal.

The total arrivals of mustard seed across the country amounted to around 4 lakh bags, with Rajasthan contributing 2.5 lakh bags, followed by Madhya Pradesh (25,000 bags), Uttar Pradesh (35,000 bags), Punjab and Haryana (20,000 bags), and Gujarat (15,000 bags).

The prevailing weakness in demand continues to weigh on the mustard seed complex, leading to a sustained bearish trend in the market. The reluctance of processors and stockists to increase their inventories is further exacerbating the downward pressure on prices. It remains to be seen whether demand will pick up in the near future to provide some support to the market.

(By Commoditiescontrol Bureau: 09820130172)

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