Mustard oil gained marginally today on improved demand and weak arrival. In mandis here, it was up Rs 4 on Thursday to Rs 756 for 10 kg. In Neemuch and Moorena also, mustard oil rose to Rs 750 (up Rs 3) and Rs 760 (up Rs 5) respetively. In Rajasthan, mustard oil gained Rs 10 each in Kota and Jaipur at Rs 760 and Rs 775 respectively, while it was quoted Rs 15 up in Shree Gangar Nagar at Rs 765. In Gujarat, it rose by Rs 5 to Rs 755 on improved buying support. Though prices have risen, demand remains, as palm, super palm and cottonseed oils are cheaper, said trader, Kailash Agrawal.
Due to tepid trade today because of mandis elections, mustard oil ruled flat at Rs 4,500 a quintal. Weak buying pulled down mustard seeds’ December and January contracts on the National Commodity and Derivatives Exchange to Rs 4,110 (down Rs 38) and to Rs 4,240 a quintal (down Rs 8). Compared with last week, the contracts have dropped by Rs 40 and Rs 48. However, plant deliveries of mustard for Jaipur line on Thursday were quoted at Rs 4,350-4,370 a quintal (against Rs 4,240-4,270 last week).
Because of higher sowing, mustard output is estimated to rise this year to 65-70 lakh tonnes against 59 lakh tonnes last year. Till December 14, mustard was reported to have been sown in 63.61 lakh hectares, 3 per cent more area compared with the last year during the same period.
On Thursday, 70,000 bags of mustard seeds arrived all over the country: 4,000 in Madhya Pradesh, 6,000 in Uttar Pradesh, 42,000 in Rajasthan, 8,000 in Punjab and Haryana, 4,000 in Gujarat and 6,000 elsewhere.