A new round of boom is expected to start soon in the mustard market

18-Jun-2024 06:32 PM

Hisar. Last month, the farmers and traders got some relief due to the rise of 500-700 rupees per quintal in the price of mustard, but after that, due to sluggish demand and lifting,

the prices started softening or stabilizing. The government has estimated that the production in Haryana, a major mustard producing state, will increase to 14 lakh tonnes during the current year.

Government agencies - HAFED and State Warehousing Corporation purchased a good amount of mustard from farmers at the minimum support price (MSP),

which gave good support to the market. Due to the slowdown in the market after the recent rise, the arrival of mustard in the state's mandis has started decreasing.

According to trade analysts, there can be a good business of mustard at lower prices, due to which another round of boom in its prices is expected to start.

At present, the mustard business has slowed down due to severe heat and extremely high temperatures. In the Bhiwani market of South Haryana,

the price of mustard remained at the previous level of Rs 5550/5600 per quintal, which was Rs 50/100 per quintal below the minimum support price.

There was no change in the price of mustard oil and it remained stable at the old level of Rs 1160/1170 per 10 kg. No significant change was seen in the price of mustard and its oil in Hansi and Narnaul Mandi as well. Actually, due to the heat wave,

there is a slowdown in oilseeds and oil. Whenever the temperature drops with the first shower of monsoon, the business can pick up again.

The price of mustard in Narnaul is being reported to be Rs 5650-5750 per quintal. The Meteorological Department has expressed the possibility of the arrival of southwest monsoon in Delhi,

Haryana and surrounding areas by June 29, while before that on June 20, light rain with strong winds may occur in Delhi-NCR.