Mustard oil has been witnessing an uptrend in Indore and other mandis across Madhya Pradesh, Rajasthan and Gujarat on strong global cues and decline in arrivals.

Unavailability of mustard seeds to plants at lower rate with stockists restricting release of mustard seeds on account of heavy rains, has added to uptrend in mustard oil.

Maintaining an uptrend, mustard oil in Indore mandis on Thursday rose to Rs 622 for 10 kg (up Rs 5). Similarly it was up Rs 5 in Neemuch (Rs 615) and Moorena (Rs 620).

Similarly in Rajasthan mandis also mustard oil was ruling higher with its prices in Kota and Ganga Nagar quoted at Rs 640 each (up Rs 15). In Jaipur also it ruled Rs 15 up at Rs 655 for.

Scattered report of some damage to soyabean crops due to heavy rains in the State hase also supported bullish trend in mustard and soya oil.

Mustard seeds ruled flat at Rs 4,000-4,100 a quintal, even as arrival of mustard seeds across the country on Thursday declined to 55,000 bags (70,000 bags last week).

Weak demand and buying support have also dragged raida with its prices being quoted at Rs 2,800-2,900 (down Rs 100-200 from last week).

In Neemuch, mustard seed is currently ruling at Rs 3,000-3,085. Compared to futures, mustard seeds prices in the physical market have remained stable.

Musard seeds traded higher with its August and September contracts on the NCEDX closing at Rs 3,163 (up Rs 14) and Rs 3,200 (up Rs 18).

With decline in arrivals, plant deliveries of mustard seeds for Jaipur line were quoted higher at Rs 3,380-85 (Rs 3,350-55 last week).

Rajasthan led the arrivals with 37,000 bags, followed by Madhya Pradesh, Uttar Pradesh, Punjab/Haryana with 4,000 bags each, while Gujarat recorded an arrival of 2,000 bags and 4,000 bags elsewhere in the country.

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