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Mustard Seed, Oil, and Cake Prices Continue Downward Trend Amidst Ample Supply

4 Jun 2024 3:39 pm
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Mumbai, June 4 (Commodities Control): Mustard seed, oil, and cake prices experienced a second consecutive day of decline on Tuesday, attributed to a surplus of mustard seed supply exceeding the current consumption demand.

In the benchmark market of Jaipur, prices for mustard seed with 42% condition fell by Rs 100 to Rs 6025-6050 per quintal (excluding GST). Mustard oil expeller and kachchi ghani prices also decreased by Rs 20, reaching Rs 1140-1141 and Rs 1150-1151 per 10kg, respectively. Mustard cake prices saw a reduction of Rs 45 to Rs 2770-2775 per quintal in Jaipur.

Similar price trends were observed in Delhi and Charkhi Dadri markets, with mustard seed and oil prices declining. Total arrivals of mustard seed across India reached approximately 6.5 lakh bags, with Rajasthan leading in arrivals, followed by Madhya Pradesh, Uttar Pradesh, Punjab, Haryana, and Gujarat.

As per estimates from Marudhar Trading Agency, a Jaipur-based market observer, the balanced stocks of mustard seed were 96 lakh tonnes as of June 1, 2024.



At Kandla port, CPO prices remained stable at Rs 882 per 10kg, while RBD palmolein prices saw a slight increase of Rs 5 to Rs 900 per 10 kg. Soyoil refine prices also rose by Rs 5 to Rs 950 per 10 kg. However, degum prices decreased by Rs 5 to Rs 880 per 10 kg, and sunflower refine oil traded Rs 5 lower at Rs 950 per 10 kg.

The mustard market is currently experiencing a downward trend due to a surplus of supply. While this might be beneficial for consumers in the short term, sustained low prices could discourage farmers from cultivating mustard seed in the future, potentially leading to supply shortages and price volatility in the long run.



(By Commoditiescontrol Bureau; +91-9820130172)


       
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