Sharp Decline in Mustard Prices Due to Weak Buying by Oil Millers
After a significant surge in prices driven by limited arrivals in wholesale markets and restricted selling by government agencies, mustard prices saw a steep drop during the week of August 23–29. Prices declined by ₹100 to ₹300 per quintal, although they still remained well above the Minimum Support Price (MSP). Mustard Seed (42% Condition) In the review week, the price of 42% conditioned mustard seed dropped: By ₹100 to ₹7,100 per quintal in Delhi By ₹250 to ₹7,200 per quintal in Jaipur Despite government agencies like HAFED holding substantial stock, the release into the market remains limited, contributing to earlier price surges. Mustard Cake (DOC) Mustard de-oiled cake (DOC) saw sluggish trade at higher price levels, leading to downward pressure on prices. Although Chinese importers had shown strong interest earlier, their demand has now weakened. The mustard market is expected to remain volatile in the near term. In major markets of Gujarat, Haryana, Madhya Pradesh, Uttar Pradesh, and Rajasthan, mustard seed prices declined by ₹100–200 per quintal: In Bundi, prices fell ₹300 to ₹7,200 per quintal In Hisar and Charkhi Dadri (Haryana), and Gwalior (MP), Bharatpur and Khairthal (Rajasthan) – prices were down ₹200 In Kota and Bundi – prices dropped by ₹300 In Agra (UP), prices fell ₹275, reaching ₹7,650–7,800 per quintal Mustard Oil Following the steep fall in mustard seed prices, mustard oil rates also dropped sharply: In Delhi, expeller oil fell ₹50 to ₹1,510 per 10 kg In Charkhi Dadri, it declined ₹83 to ₹1,512 per 10 kg In Jaipur, kachchi ghani oil dropped ₹60 and expeller oil by ₹35 per 10 kg In Alwar, prices softened by ₹50; Agra saw a decline of ₹40, and Kolkata by ₹30 Despite limited arrivals in key wholesale markets, the prices have adjusted downward across mustard products.