The stock of Indian mustard is lofty, and the tendency of mustard is down in the global markets. Due to the slowdown in mustard and other edible oils, it will likely continue to decrease gradually. In support of this, its mustard oil will also see a fallback.
Sowing has been completed
Mustard sowing has been completed in 98% of producing states like Madhya Pradesh, Rajasthan, Haryana, Punjab and UP. For the last 20 days, mustard stocks have been cut intermittently at low prices, due to which the stockists have suffered heavy losses so far. In just 3 days, the cost of mustard has come down. Now 0.125 million bags of daily mustard arrive in the country in domestic shops.
Future Scenario
This time, sowing has been bumper due to farmers getting higher prices, and permission has also been given for the sowing of modified genetics mustard. Under these circumstances, the production of all oil seeds, including mustard, will be more than last year. It has been almost 10 months since the new crop arrived.
The new Indian mustard crop sowing has reached 98%, and the remaining 2% sowing will be done by the end of December. This time the government has sold advanced seeds in abundance in the producer markets, due to which the productivity per hectare will increase. Another logic behind the bearish trend in edible oils is that crude palm oil prices have fallen in the international markets. Thus, bearishness prevails.
The Mustard seeds brown bold prices were recorded at $0,83 per kg FOB.
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