Monday 28 June 2021

Mustard demand and prices fall


Soybean oil, cottonseed, groundnut, crude palm oil (CPO) and palmolein oil prices declined in the Delhi oilseeds market last week amid a declining trend in overseas markets. Mustard oil prices fell on lower arrivals and fall in imported oils due to lower demand and closed with an unchanged trend.

Talking about the market, the Chicago Exchange has fallen by two per cent, due to which the prices of almost all edible oils have fallen.

The rainy season is on and the demand for mustard in the country will increase in the coming 10 days. But some loss is being seen because there is less arrival in mustard markets and due to this shortage, mustard mills are being closed in Rajasthan and Uttar Pradesh in India. Talking about it, there is a demand of one to 1.25 lakh bags of mustard for crushing 20-25 bags per day. Apart from this, the daily demand of mustard from other big oil mills like Saloni, Engine, Bull crusher is more than 1.5 lakh bags. The companies making mustard oil require about two lakh sacks of mustard every day and if they are not being met, then the companies may have to bear a lot of losses.

In such a situation, the arrival of mustard in the mandis is very less i.e. 2.5 lakh sacks of mustard which are running below. In the coming 15 days, the demand will increase further due to which the rate of mustard may increase and due to off season, the arrival of mustard in the mandis will keep on decreasing. Due to this situation, there has been no change in the prices of mustard despite the fall in foreign countries.

Problem assessment during mustard sowing

For the next sowing of mustard, the government will have to make arrangements for mustard seeds from now on because there is a commodity in the market. On the other hand, it is also being speculated that if there is a possibility of better crop of mustard this year, then seed arrangement is necessary, otherwise there may be a problem like shortage of soybean at the time of sowing. Farmer companions should also take care and save some seeds, otherwise it may be difficult to get its seed on time, if you get it, then the rate will be very high.

Food regulator FSSAI is continuously monitoring the adulteration of mustard oil to check whether pure mustard oil is being made available to the consumers or not. It is obvious that such rates and supplies are not being met. All this is natural.

The effect of the fall in the Chicago Exchange has also been seen on the prices of CPO and Palmolein oil and the fall in the prices of oils was seen. Talking about the impact of demand, the prices of groundnut oil, oilseeds and cottonseed oil also declined. The same decline in refined oil prices has also been observed. Indore edible oil market saw a fall of Rs 10 per 10 kg in groundnut oil and refined soybean, though not much but seen for now.

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