Mustard oil ruled firm in mandis across Madhya Pradesh on Thursday but it ruled higher compared with last week on steep decline in arrival. In Indore mandis, mustard oil on Thursday ruled at ₹672 (up ₹5 from last week). Steep decline in arrival and rise in buying support from pickle manufacturers contributed to uptrend in mustard oil in the past two weeks. According to traders, given the declining stock of mustard, a bearish sentiment appears unlikely. Plant deliveries for Jaipur line were ₹3,725-30 (₹3,705-10 a quintal last week).
Decline in arrival and domestic stock have also lifted prices of mustard seeds in the physical market to ₹4,200-4,300, while raida ruled flat at ₹3,000-50 a quintal.
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