INDIA: Since the middle of May, there has been a weak sentiment in mustard prices. It is due to the lesser demand for seeds from the oil mills. According to market experts, the future is unlikely to improve in the next few days.
Current Scenario
Despite the low price in recent days for mustard, there has been support from the government for mustard farming. It has resulted in farmers increasing crop sowing compared to other crops.
The production of mustard has increased significantly in the country, and the weather has been favorable for the crop.
The production of mustard in the country during the current season is expected to be around 11,1 million tonnes. Last year the production was 8,5 million tonnes.
The daily arrival of mustard in various spot markets of the country is currently coming down to about 525 thousand bags.
The selling of stockists has also reduced. Due to this, there is no pressure of arrival in the spot markets of the country.
Other factors that impacted the price of mustard are the rise of diesel and transportation. Also, in the international market, the prices of imported oils remained firm due to the war between Russia and Ukraine.
However, the government has imposed stock limits to curb the rising prices of edible oils.
Future
In the current situation, there is no possibility of a rise in the prices of mustard in the coming days. Therefore, the market is expected to rotate in the middle of the recession, with an increase of $0,02 -$0,03 per kg.
Price Trend
The latest price drop for mustard is recorded to be $0,05 per kg. In the Najafgarh spot market, the price was $0,82 – $0,83 per kg. The mustard oil price declined by $0,11 per kg to $1,88 per kg. In Jaipur, the price declined by $0,03 per kg to reach $0,91 – $0,92 per kg due to the weak purchase. In the Agra spot market, the rate of mustard was quoted at $0,97 per kg after it decreased by $0,03 per kg. In the Alwar spot market, the price was $0,90 per kg, down by $0,03 per kg. In Ganganagar also, there was a drop in the mustard rate to reach $0,87 per kg.
Brown Mustard Seeds Micro Machine Clean
| Date | Price |
| May 17 – 24 | $1,00 per kg FOB |
| May 10 – 12 | $1,03 per kg FOB |
| May 3 – 9 | $1,02 per kg FOB |
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