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Even as local mandis were closed on Thursday on account of parliamentary elections, mustard oil witnessed a sluggish trend on slack physical demand with its price in Indore mandis in private trading at ₹645/10 kg (₹1 less compared to its prices last week). In Rajasthan mandis, mustard oil traded lower with arrivals outstripping demand. In Kota and Ganga Nagar, mustard oil ruled at ₹6,300 each (down ₹10 from last week), while it was quoted at ₹645 in Jaipur (down ₹5 from last week). Mustard oil had witnessed a rally last week due to improved physical demand and an uptrend in soya oil.
Plant deliveries for Jaipur line ruled at ₹3,425-30 a quintal (₹3,415-20) notwithstanding slack demand from crushers. In the physical market, mustard seeds are ruling stable at ₹3,900-4,050 on slack demand. Raida ruled stable at ₹2,900-3,000. Given the increased arrival of mustard across the country, any rally appears unlikely in the coming days.
Total arrival of new mustard in the country on Thursday rose to 5.40 lakh bags (3.20 lakh bags last week).
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