Mustard Seeds Price: These days, for the farmers who have a stock of mustard, this season is excellent. Because mustard seed is being sold at the highest rate so far this season. Most of the oilseeds, including soybean, CPO and palmolein, saw a fall in prices at the local oilseeds market on Thursday amid a declining trend in overseas markets. In contrast, mustard oil oilseeds prices improved on festive demand.
Mustard Seeds Price
Market sources said that the government had issued a notification asking the states that they can monitor and check the traders’ stock, turnover, etc. The government’s concern is that despite reducing the import duty of edible oils like CPO, soybean degum, the prices have not softened significantly.
Soybean and CPO prices firm
Sources said the Malaysia Exchange was down by two per cent and the Chicago Exchange by half a per cent. After reports of reduction in import duty in some newspapers came out, the prices of soybean and CPO abroad strengthened. The government is taking a very cautious approach in the matter of edible oils. The government has said that it is monitoring the prices of edible oils daily and is also keeping an eye on its imports.
Government eyes on hoarding and profiteering
He says that he is ready to take appropriate steps to keep the price under control. The government has reduced the duty on import of various oils, including crude and refined palm oil. He also has an eye for hoarding and profiteering. Traders said that the prices of Mustard Dana and Sarson Dadri closed with improvement due to festive demand for mustard and reduced availability of goods in the market. At the same time, Sarson Pakki and Kachchi Ghani oil remained at the previous rates.
Mustard price at a record level
According to market sources, given the demand situation, the price of mustard has increased from Rs 9400 to Rs 9500 a quintal in Saloni, Agra and Kota. Recently, the government has drastically increased the minimum support price of mustard for the next season. MSP rate of mustard has been increased from Rs 400 per quintal to Rs 5,050. According to the new rate also, mustard is being sold at record prices. The demand for crude mustard oil has increased in the northern states of the country.
The wholesale price in the market remained as follows- (Rs. per quintal)
Mustard oilseeds – 8,675 – 8,725 (42 percent condition price) Rs.
Mustard oil Dadri – Rs 18,000 per quintal.
Sarson Pakki Ghani – Rs 2,695 -2,745 per tin.
Mustard Kachhi Ghani – Rs 2,780 – Rs 2,890 per tin