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Notwithstanding decline in arrival, slack buying support at higher rate has dragged mustard oil prices in mandis across Madhya Pradesh, Rajasthan and Gujarat. Even as local mandis remained closed here on account of Agrasen Jayanti , in private trading, mustard oil in Indore ruled at ₹672 (down ₹4 from last week), while it was quoted at ₹665 in Neemuch and ₹675 in Moorena (down ₹5 from last week).
In Rajasthan mandis as well, mustard oil traded low on slack buying with its prices both in Kota and Ganga Nagar being quoted at ₹5 lower from last week at ₹680 each. In Jaipur however, it ruled firm at ₹695, while in Gujarat it was quoted at ₹5 lower from last week at ₹660. Given rise in buying support during the festive season and declining stock, sluggish trend in mustard oil in near future appears unlikely in the coming days, said Kailash Agrawal, a mustard seeds broker talking to the BusinessLine .
With majority of mandis in Madhya Pradesh remaining closed on Thursday, mustard seed prices ruled firm at ₹4,100-4,200 a quintal amid negligible arrival. Raida also ruled stable at ₹3,000-3,100. With majority of mandis in the country remaining closed due to Navratri holiday, arrival of mustard seeds across the country was recorded at 90,000 bags (1.10 lakh bags last week).
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