With the help of government purchase, the price of mustard reached above the support price

27-Jun-2024 03:50 PM

New Delhi. With the support of good purchase by government agencies, the price of mustard in the markets of major producing states reached above the minimum support price,

which has now come down to around it. There has been an atmosphere of fluctuation in the prices of mustard for the last two months. For the current Rabi marketing season,

the government has increased the minimum support price (MSP) of mustard by Rs 200 to Rs 5650 per quintal.

Usually, government agencies show maximum activity in the purchase of mustard during the April-June quarter.

The price of mustard in Jaipur was recorded at Rs 6050/6100 per quintal last day. The market has got some support from government purchase.

Although there has not been an unexpected rise in the price of mustard, but government purchase has definitely had a positive psychological effect on the major markets.

Due to improvement in the price of mustard oil and cake, oil millers had started buying mustard at higher prices.

In the beginning of April, the price of mustard was between 5375-5400 rupees per quintal, which has now improved by about 200 rupees.

This time, a good amount of mustard was purchased from farmers at the minimum support price by the central agency - NAFED and the Haryana government's subordinate agency - HAFED. NAFED purchased 7.74 lakh tons of mustard in five states. Overall,

it is being reported that 3.51 lakh tons were purchased in Rajasthan, 3.25 lakh tons in Haryana, 3.65 lakh tons in Madhya Pradesh, 1.17 lakh tons in Gujarat and 45 thousand tons in Uttar Pradesh.

Government agencies have a stock of about 27.20 lakh tons of mustard, including new and old goods. Its sale may start in the coming months.