Mustard Prices Improve with Increased Purchases

On Friday, mustard prices rose in the domestic market as oil mills increased purchases at lower prices. In Jaipur, the price of conditioned mustard rose to $0,73 per kg. During this period, daily arrivals of mustard decreased to only 0.3 million sacks. Stockists and farmers are reluctant to sell mustard at low prices despite significant stock in producing states. Experts predict an increase in mustard oil demand by the end of the current month due to the upcoming festive season.

Impact of Imported Edible Oils

In the domestic market, mustard oil prices rose, but mustard cake prices declined. Prices of raw Ghani mustard oil in Jaipur increased by $0,0048 to $1,41 per kg, while mustard expeller oil prices increased by $0,006 to $1,40 per kg. The price of mustard cake decreased to $0,32 per kg. The upcoming festive season is expected to boost demand, despite current low demand for mustard oil

Global Edible Oil Market Influences Mustard Prices

The foreign market showed a downward trend in edible oil prices. Malaysian palm oil futures for September delivery fell by $0,32 per kg, or 0.66%. Dalian's most active soybean oil futures contract fell by 0.97%, and its palm oil futures contract fell by 1%. The Chicago Board of Trade was closed due to a holiday. Malaysia's palm oil stock was estimated at 1.83 million tonnes at the end of June, a 4.53% increase from May. The Malaysian Palm Oil Board will release its June data on July 10.

In summary, mustard prices are expected to rise due to increased oil mill purchases and reduced arrivals. Market dynamics, including global edible oil trends and domestic stock levels, will continue to influence prices. Therefore, traders and producers should prepare for potential price fluctuations and market shifts.