Commodities

Mustard oil slips on weak buying support

Our Correspondent Indore | Updated on November 08, 2012 Published on November 08, 2012

BL09_MUSTARD_





Decline in buying support at higher rate, kept mustard oil prices steady in mandis across Madhya Pradesh, Rajasthan and Gujarat.

In Indore mandis, mustard oil ruled flat at Rs 782, while it was Rs 775 in Neemuch and Rs 785 in Moorena mandis of Madhya Pradesh.

Similarly in Rajasthan and Gujarat mandis also the oil ruled steady with its price in Kota and Shree Ganga Nagar being quoted at Rs 785 each, while it was Rs 800 in Jaipur and Rs 780 in Gujarat.

Compared with its prices last week, mustard oil is ruling Rs 3 lower each in Indore and Neemuch mandis, while it is Rs 5 down in Moorena from last week.

Decline in arrivals and improved buying support has perked up mustered seeds in Indore mandis by Rs 100 a quintal in the past one week to Rs 4,500-4,600 a quintal. Similarly raida rose to Rs 4,000-4,100against Rs 3900 last week.

Mustard seeds futures gained on improved buying support with its November and December contracts on the NCEDX closing at Rs 4,182 (up Rs 52) and Rs 4,239 (up Rs 51).

Compared with its prices last week, November and December contracts on the NCEDX are ruling Rs 29 and Rs 48 lower.

Rise in demand from millers in the past few days has lifted plant deliveries for mustard by about Rs 50 to Rs 4,370-4,420.

Published on November 08, 2012
This article is closed for comments.
Please Email the Editor