Mustard Oil Prices Decline on Weak Mill Buying

Domestic mustard prices fell on Monday following weak buying from oil mills. In Jaipur, mustard prices declined by ₹75, closing at ₹7,075 per quintal. Most branded oil mills reduced their evening session buying prices by ₹50–75 per quintal. Global Market Trends Global edible oil prices showed a mixed trend. Malaysian palm oil prices fell, while Chicago soybean oil prices saw a slight recovery. Analysts attribute the decline in Malaysian palm oil futures to weak demand and rising inventories, though minor gains in crude oil and soybean oil provided limited support. The January palm oil futures contract in Malaysia dropped by 45 ringgit (0.99%) to 4,520 ringgit per ton, whereas January soybean oil futures in Chicago rose by 0.46%. Higher palm oil production in Malaysia, coupled with slow buying by major importers, weakened market sentiment. Nonetheless, expectations of higher exports in early October and a slight decline in September production limited the price fall. Domestic Market Outlook Traders noted that domestic demand for edible oils is expected to remain stable this month due to the consumption season. However, short-term price movements in mustard oil will largely depend on imported edible oil prices. Weather in mustard-producing states of North India remains favorable, which may support prices in the near term. India, a major palm oil buyer, is expected to import below 6 lakh tonnes in October, approximately 16% less than September. Despite the arrival of Kharif oilseed crops and the ongoing festive season, weak domestic demand could reduce imports. Malaysian palm oil production fell 0.73% in September to 1.84 million tonnes, marking the first monthly decline in three months. Domestic Prices (per 10 kg) Bharatpur: Crude mustard oil – ₹1,450–1,460 (stable) Adampur: Crude mustard oil – ₹1,465–1,470 (weak), Refined mustard oil – ₹1,810 (stable) Kota: Crude mustard oil – ₹1,470 (weak) Charkhi Dadri: Mustard cake – ₹2,450 per quintal (weak) Jaipur: Mustard cake – ₹2,550 per quintal Nawa & Hock: Mustard cake – ₹2,400 per quintal

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