Mustard Prices Might Increase in July

Mustard and Mustard Oil Prices to Decrease Further

Mintec Global
Spread the news!

Palm oil dominance in India has been steadily increasing for the last 20 years. Nine out of every ten people in the country trade in edible oils. With palm oil prices falling by 30 percent in June, the balance sheets of all edible oils have deteriorated.

Soybean, groundnut, and Mustard production in India increased this year due to the sharp rise in palm oil. As a result, palm oil prices were at one point higher than Mustard oil and groundnut oil, but as soon as the cost of palm oil fell, the entire edible oil market scenario changed.

Market experts believe there will be a further slump in the mustard and mustard oil market price. This is because the only possible way to increase the price is if there is a rise in edible oil import duty.

Earlier, India’s edible oil imports declined by 3 million tonnes in the last three years. However, it increased from 2 million to 15 million tonnes in just one year. The government has allowed the duty-free import of 2 million tonnes of soy oil and 2 million tonnes of sunflower oil.

Some experts believe there is still hope of a mustard and mustard oil price hike during the festive season. But it won’t be long-term growth. The price increase is expected to last between August and October.

Given the market fundamentals, the price of Mustard oil may go down by $0,01 to $0,02 per kg. But an increase of $0,06 to $0,07 will be seen. However, the recovery may not last long as palm oil and soy oil prices continue to fall in foreign markets.

The  Mustard Seeds Bold Machine Clean prices were Recorded at $0,93 per kg FOB