Weekly Review - Mustard

22-Feb-2025 09:15 PM

Mustard market strengthened before the arrival of new crop

The mustard market showed positive signs in the week of February 15-21, as prices increased due to strong purchases by millers and traders ahead of the new crop arrival.

Key points from the report:

• Price Increase: The price of mustard rose by ₹50 to ₹200 per quintal, with notable increases in Bikaner, Rajasthan, where the price surged by ₹500, reaching ₹5200-5500 per quintal. In Delhi, the 42% condition mustard increased by ₹100 to ₹6200 per quintal, while prices in Jaipur and other markets like Gujarat, Haryana, and Madhya Pradesh saw moderate rises.

• New Crop Arrival: Some mustard has already started arriving in top-producing states like Rajasthan and Uttar Pradesh, with new harvesting expected in the coming weeks, depending on the weather.

• Support Price: The government has set the minimum support price (MSP) for mustard at ₹5950 per quintal for the 2024-25 season. If prices decline due to a strong supply, the government may need to intervene by purchasing mustard to support farmers.

• Mustard Oil: The increase in mustard prices led to a corresponding rise in mustard oil prices, with the cost of expeller rising by ₹35 in Delhi to ₹1330 per 10 kg.

• Weak Demand for Mustard Cake: Mustard cake demand remained sluggish, causing prices for mustard DOC (de-oiled cake) to fall by ₹300-500 per ton.

Overall, the mustard market is holding steady with rising prices, but with the new crop on the horizon, there may be adjustments depending on supply levels and government intervention.