Mustard Weekly Review (1-7 November 2024)
09-Nov-2024 06:06 PM
Mustard Weekly Review (1-7 November 2024)
Mustard Seed Prices
The mustard seed market saw limited fluctuations during the week of November 1-7. The sowing season for mustard has begun in Rajasthan and other states, and while demand for mustard oil for the festive season has largely been fulfilled, the market remains somewhat subdued. Prices for mustard seed saw only moderate changes:
- Delhi: The price of 42% condition mustard fell by Rs 50 to Rs 6550 per quintal.
- Jaipur: Prices rose slightly by Rs 25, reaching Rs 6800-6825 per quintal.
- Haryana: Prices varied across the region, with increases of Rs 100 in Sirsa and Rs 50 in Barwala, while the price softened by Rs 75 in Charkhi Dadri.
- Madhya Pradesh: The price was stable in Morena and Porsa but saw a rise of Rs 150 in Gwalior.
- Rajasthan: Prices remained low in key mustard-producing areas like Bharatpur, Alwar, and Khairthal due to weak demand. However, prices rose by Rs 100 in Bikaner.
- Uttar Pradesh: Prices fell by Rs 50 in Hapur and Rs 100 in Agra.
Overall, there were no major fluctuations, with most regions seeing marginal changes based on local demand and supply dynamics.
Mustard Oil Prices
The mustard oil market remained soft, with prices generally showing small declines:
- Delhi: Mustard oil prices dropped by Rs 30 to Rs 1380 per 10 kg.
- Mumbai: Prices increased by Rs 20.
- Bikaner: Mustard oil prices rose by Rs 40.
Despite the festive season having ended, demand for mustard oil remains steady, but overall prices remain under pressure due to weak buying activity from millers and traders.
Mustard Arrival
During the week, daily mustard arrivals at the national level decreased to between 2.00 and 2.25 lakh bags. However, this did not generate much interest from millers and traders, likely due to the ongoing seasonal lull in demand and the prevailing market conditions.
Mustard Cake/DOC
Demand for mustard cake and de-oiled cake (DOC) also started weakening. This trend could have implications for mustard sowing if the price of mustard continues to soften. Despite this, the price of mustard cake saw a small increase of Rs 20 to Rs 30, while DOC prices softened slightly.
Outlook
- The soft demand for mustard seed and mustard oil is expected to persist, with only marginal fluctuations in prices.
- If the current weak demand trend continues, it could lead to a slowdown in sowing activities in mustard-growing states, which may affect future supply dynamics.
- The demand for mustard cake and DOC is also likely to remain subdued as the festive season ends and post-harvest activity slows down.