Even as local mandis remained closed for the second consecutive day on Thursday, mustard oil ruled steady in private trading amid slack demand and buying support.
In Indore, it ruled at Rs 797 for 10 kg, while it was Rs 790 in Neemuch and Rs 800 for 10 in Morena.
In Rajasthan and Gujarat mandis also, mustard oil ruled stable with its price in Kota and Ganga Nagar remaining flat at Rs 810 each, while it was Rs 835 in Jaipur and Rs 800 in Gujarat.
In Kota and Ganga Nagar mandis of Rajasthan, mustard oil is ruling Rs 5 higher compared with last week, while in Jaipur, it is up Rs 15 and Rs 10 higher in Gujarat.
Downtrend in mustard oil has been mainly due to a weak demand and decline in buying interest from stockists.
According to traders, mustard oil expected to decline further, given strong buying support in super palmolein oil which is being sold at merely Rs 700 for 10 kg.
Any further rise in mustard oil prices in the coming days would more or less depend on actual sowing of mustard seeds in the coming days and actual report of carryover stock in mustard, said Vinod Choudhar, a local mustard seeds broker.
Mustard seeds in private trading ruled stable at Rs 4,400 a quintal.
Plant deliveries for mustard oil have, however, improved compared with its prices last week.
Plant deliveries in mustard oil for Jaipur line two days back were quited at Rs 4,300-4,350 against Rs 4,260-90.
Mustard seeds futures have also gained marginally on improved buying support compared with its prices last week.
On Thursday, mustard seeds September and October contracts on the NCEDX closed at Rs 4,114 (down Re 1) and Rs 4,148(up Rs 34).
On account of nation-wide bandh, there was no arrival of mustard seeds in the country on Thursday.