Weekly Review - Mustard

15-Feb-2025 07:53 PM

Improvement in the price of mustard due to buying by crushing units

The weekly review highlights a notable improvement in mustard prices due to increased buying interest from crushing-processing units, particularly before the new crop's arrival. Here's a breakdown of key points:

• Price Increase: The price of 42% condition mustard rose by Rs 100-150 per quintal in various regions. Delhi saw a rise to Rs 6100, while Jaipur recorded a price of Rs 6275-6300 per quintal. Despite some stability in Gujarat, other regions, including Madhya Pradesh, Rajasthan, and Uttar Pradesh, saw increased prices. In Agra, the new mustard crop has started arriving, attracting attention from farmers due to its appealing price.

• Government Support Price: The central government increased the minimum support price (MSP) for mustard by Rs 300, from Rs 5650 per quintal to Rs 5950 per quintal for the 2024-25 season. However, the price in many mandis remains below this MSP. NAFED holds significant stock from the previous season and might need to purchase more in the current one.

• Mustard Oil Prices: The increase in mustard prices resulted in a rise in mustard oil prices by Rs 10-30 per 10 kg. The price of expeller in Delhi improved by Rs 15 to Rs 1295, but Bikaner saw a decrease of Rs 60 to Rs 1260 per 10 kg. Kachi Ghani oil prices in Hapur rose significantly by Rs 70 to Rs 1440-1470 per 10 kg.

• Mustard Cake (DOC): Mustard cake prices increased by Rs 80-100 per quintal due to some trading activity. Prices were strong in Delhi but remained stable in places like Charkhi Dadri, Morena, Jaipur, Bharatpur, and Alwar.

• Arrival and Supply: A total of 1.65 lakh bags were supplied on February 8, with daily arrivals ranging from 2.25 to 2.55 lakh bags over the week.

Overall, while prices are rising, especially in the mustard oil and cake markets, the supply of new mustard is expected to increase from next month, which could affect future price trends.