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Mustard Seed, Oil, and Cake Prices Decline on Weak Demand

8 Jun 2024 2:34 pm
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Mumbai, June 8 (Commodities Control) : Mustard seed, oil, and cake prices experienced a downward trend across major Indian markets, including Jaipur, Delhi, and Charkhi Dadri. The decline is attributed to a weakening demand at higher price levels, following recent price surges.

In Jaipur, mustard seed prices (42% conditioned) fell by Rs 50 to settle at Rs 6,175-6,200 per quintal (excluding GST). Mustard oil expeller and kachchi ghani prices also declined by Rs 11, reaching Rs 1,170-1,171 per 10kg and Rs 1,181-1,181 per 10kg respectively. Mustard cake prices saw a reduction of Rs 15, closing at Rs 2,785-2,790 per quintal.

Similar trends were observed in Delhi, where mustard seed prices decreased by Rs 50 to Rs 5,950-6,000 per 100kg, and mustard seed oil expeller prices fell by Rs 15 to Rs 1,145 per 10kg. Charkhi Dadri witnessed a Rs 50 decrease in mustard seed prices, settling at Rs 5,900-5,950 per quintal, while mustard oil expeller prices dropped by Rs 15 to Rs 1,135 per 10kg.

Nationwide arrival of approximately 5 lakh bags of mustard seed. Arrivals of mustard seed were around 3.25 lakh bags in Rajasthan, 35,000 bags in Madhya Pradesh, 45,000 bags in Uttar Pradesh, 20,000 bags in Punjab and Haryana and 20,000 bags in Gujarat. The major markets of states received around 55,000 bags of mustard seed. The market sentiment remains bearish due to subdued demand.

The recent decline in mustard seed, oil, and cake prices signals a softening of demand following earlier price increases. Market participants will be closely monitoring the evolving supply and demand dynamics to gauge future price movements.

(By Commoditiescontrol Bureau; +91-9820130172)

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