Jaipur, 3 June (Commoditiescontrol) Mustard seed complex saw bearish mood on Monday due to weak demand for oil and oilcake at higher rates. Prices of mustard seed, oil and oilcake dropped in the benchmark market of Jaipur and elsewhere in the country as the stockiest and the processors were reluctant to increase their stock-position at higher rates.
Prices of mustard seed with 42% conditioned were quoted Rs 75 down at Rs 6125-6150 per quintal (excluding GST), in the benchmark market of Jaipur.
Mustard oil expeller prices dropped Rs 20 to Rs 1160-1161 per 10kg. Kachchi Ghani prices also fell Rs 20 to 1170-1171 per 10kg. Mustard cake prices declined Rs 30 to Rs 2815-2820 per quintal in Jaipur.
Mustard seed prices dropped Rs 50 to Rs 6000-6050 per 100kg in Delhi and mustard seed oil expeller was quoted Rs 20 down at Rs 1135 per 10kg. In the market of Charkhi Dadri, mustard seed prices were quoted Rs 50 down at Rs 5950-6000 per quintal. Mustard seed oil expeller traded Rs 20 down at Rs 1125 per 10kg and mustard oilcake fell Rs 30 to Rs 2800 per quintal.
Total arrivals of mustard seed were around 6.5 lakh bags across the country. Arrivals of mustard seed were around 4 lakh bags in Rajasthan, 70,000 bags in Madhya Pradesh, 70,000 bags in Uttar Pradesh, 20,000 bags in Punjab and Haryana and 20,000 bags in Gujarat. The major markets of states received around 70,000 bags of mustard seed.
The balanced stocks of mustard seed were 96 lakh tonnes as on June 1, 2024, as per the estimates of Marudhar Trading Agency, a Jaipur based market observer. The agency has estimated stocks with farmers at 58.50 lakh tonnes and stocks with processors and stockiest at 10.50 lakh tonnes. As per the estimates, stocks with NAFED and HAFED were around 27 lakh tonnes.
At Kandla port, CPO prices were flat at Rs 891 per 10kg and RBD palmolein prices were steady at Rs 910 per 10 kg. Soyoil refine prices were flat at Rs 960 per 10 kg. Degum prices were quoted flat at Rs 890 per 10 kg. Sunflower refine oil traded flat at Rs 955 per 10 kg.
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