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Mustard Seed, Oil, and Cake Prices Rebound on Increased Demand

19 Jun 2024 3:31 pm
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Jaipur, June 19 (Commoditiescontrol): Mustard seed, oil, and cake prices experienced a rebound on Wednesday as demand increased following recent price drops. Traders reported renewed buying activity, particularly for mustard seed, which in turn boosted demand for mustard oil and DOC (De-Oiled Cake).

In the benchmark market of Jaipur, mustard seed with 42% conditioning rose by Rs 50 to reach Rs 6050-6075 per quintal (excluding GST). Mustard oil expeller prices increased by Rs 16 to Rs 1163-1164 per 10kg, while kachchi ghani prices also rose by Rs 16 to Rs 1173-1174 per 10kg. Mustard cake prices saw a gain of Rs 25, reaching Rs 2675-2680 per quintal.

Similar upward trends were observed in other markets:

* Delhi: Mustard seed prices surged by Rs 50 to Rs 5925-5975 per quintal, and mustard seed expeller rose by Rs 10 to Rs 1150 per 10kg.
* Charkhi Dadri: Mustard seed prices increased by Rs 75 to Rs 5900-5950 per quintal, and mustard seed expeller was offered Rs 15 higher at Rs 1140 per 10kg. Mustard cake prices rose by Rs 10 to Rs 2670 per quintal.

Nationwide, approximately 5 lakh bags of mustard seed arrived, with Rajasthan accounting for 3 lakh bags, Madhya Pradesh 40,000 bags, Uttar Pradesh 45,000 bags, Punjab and Haryana 20,000 bags, and Gujarat 20,000 bags. Major markets across the states received around 75,000 bags.

The rebound in mustard seed, oil, and cake prices indicates a shift in market sentiment, driven by renewed demand at lower price levels. The increased buying activity for mustard seed has also positively impacted the prices of its derivative products. Market participants will be closely monitoring further developments in supply and demand to gauge the sustainability of this upward trend.

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