Weekly Review-Mustard

28-Dec-2024 08:20 PM

Mustard prices strong due to good demand from crushers-processors

Weekly Review: Mustard Market (21-27 December)

Mustard prices have remained strong during the week of December 21-27, driven by several factors, including reduced sowing areas, lower arrivals in mandis, and robust demand from crushing and processing units. As a result, prices rose by 100-300 rupees per quintal across various regions, with expectations of continued strength in the coming weeks. Additionally, the recent rains are anticipated to benefit the mustard crop, which could have an impact on supply levels.

Price Trends

• 42% Condition Mustard:
  • In Delhi, the price of 42% condition mustard increased by 150 rupees to 6400 rupees per quintal.
  • In Jaipur, it rose by 250 rupees, reaching 6500-6525 rupees per quintal.
  • The prices for average quality mustard also showed strength in most mandis.

Regional Price Movements

• Madhya Pradesh:
  • In Morena, prices jumped by 300 rupees, and in Porsa, by 325 rupees per quintal.
• Haryana:
  • In Charkhi Dadri, prices rose by 170 rupees, while other regions like Barwala and Sirsa saw an increase of 100 rupees.
• Uttar Pradesh:
  • In Hapur Mandi, the price increased by 250 rupees to 6550-6600 rupees per quintal, and in Agra Mandi, it went up by 275 rupees, reaching 6800-7175 rupees per quintal.
• Rajasthan:
  • In the major mustard-producing state, prices generally rose by 150-200 rupees per quintal. However, regions like Bundi, Bikaner, and Newai Mandi saw a price decline of 100-200 rupees per quintal. The price remained strong in places like Bharatpur and Alwar.

Mustard Oil Prices

• As a result of the high mustard prices, mustard oil prices also saw an increase. The price of expeller mustard oil rose by 35-40 rupees per 10 kg:
  • In Delhi, expeller oil rose to 1335 rupees per 10 kg.
  • In Charkhi Dadri, it increased to 1365 rupees per 10 kg.
  • Kachi Ghani mustard oil and expeller oil increased by 40 rupees per 10 kg in Morena, while Kachi Ghani oil in Hapur rose by 50 rupees.

Mustard Arrivals

• The daily arrival of mustard has decreased to 1.50-2.00 lakh bags, with each bag weighing 50 kg. Farmers and stockists are reportedly holding stocks in anticipation of further price increases.

Outlook

The mustard market is expected to maintain its strong performance in the short term, fueled by limited supply, higher demand from processing units, and the potential positive effects of recent rains on the crop.