Indian Mustard Market Update: Prices Under Pressure
Indian Mustard Market Are Under Pressure As Abundant Arrivals
The mustard market is currently experiencing a downturn as abundant arrivals from Madhya Pradesh and Rajasthan have pushed prices down. Traders are closely monitoring the situation, trying to predict whether the recession in mustard prices will continue or stabilize in the coming weeks.Current Market Scenario: Prices Decline Across States
Mustard and its products, including mustard oil and mustard cake, have seen price drops due to high supply. In southern Haryana, markets like Charkhi Dadri, Hansi, Bhiwani, and Narnaul are witnessing falling prices. The decline is influenced not only by local production but also by incoming mustard from other states.- Mustard Expeller: USD 1,57-1,58 per kg
- Mustard Seed: USD 0,69-0,70 per kg
- Mustard Cake: USD 0,27-0,28 per kg
Sowing and Production Expectations
The government has increased the Minimum Support Price (MSP) of mustard to boost oilseed sowing and reduce dependency on edible oil imports. However, despite this incentive, mustard sowing in India has decreased by about 8%, covering around 88 lakh hectares this season.In Haryana, the new mustard crop is expected to arrive in the second half of March, with production likely to match last season's levels. Favorable weather conditions support this outlook. Traders believe that while a fresh influx of mustard might lead to further price declines, the drop could be limited since prices have already softened significantly.
Mustard and Mustard Product Prices in Key Markets
Conclusion: Mustard Market May Stabilize Soon
While mustard prices are under pressure from high arrivals, the decline may not continue for long. The upcoming new crop arrivals in Haryana and the potential support from government purchases could help stabilize prices. Traders expect limited downside potential, with key product prices unlikely to drop significantly below current estimates.