Mustard oil prices softened by at the wholesale oils and oilseeds market owing to slackened demand. Castor and linseed oils in the non-edible section, also eased on reduced offtake by consuming industries. Besides easing local demand, adequate stocks positions on increased arrivals from producing belts, mainly led to a decline in mustard oil prices.
Prices of mustard seed in Jaipur were slightly higher because of improved demand from mills. Demand is seen rising as the price gap between mustard oil and other refined oils, particularly palm oil, has narrowed. Mustard futures were marginally in the red due to a rise in stocks at exchange warehouse.
Mustard futures on the NCDEX fell due to limited demand from crushers. The May mustard contract was down 0.8%. For 2017-18, India’s mustard seed output is estimated at 7.54 mln tn, compared with 7.92 mln tn in the preceding year.
Romania exported 1.2 MMT of rapeseed in July-February 2017/18 through ports that is 12.7% more than the total shipped abroad last record season. The upward trend is observed despite this season’s keen competition from Ukraine. The top importer – Belgium – purchased 470 KMT of rapeseed in July-February 2017/18 against 525.7 KMT at the same time last season, importing this commodity from Ukraine at a record pace.
Prices of mustard seed fell in Jaipur due to weak demand from crushers and oil millers. A fall in supply, however, cushioned the decline in prices.
The most active April contract of mustard seed on the NCDEX hit a three-month low of 3,897 rupees per 100 kg, tailing losses in the benchmark market of Jaipur in Rajasthan. Prices of mustard seed were down in Jaipur due to a rise in arrivals amid weak demand from stockists.
Prices of mustard seed were down in Jaipur due to a rise in arrivals amid weak demand from stockists. However, a rise in demand for mustard meal from overseas buyers cushioned the fall in prices of the oilseed in the domestic market.
Oil mills across the country have crushed 800,000 tn of mustard seed in March, more than double from last month.
Prices of mustard seed hit a two-week low in Jaipur, owing to weak demand for mustard oil and meal from domestic and overseas buyers. A rise in arrivals also weighed on prices.
Prices of mustard seed declined in Jaipur due to a rise in arrivals coupled with subdued demand from domestic oil millers and crushers. Subdued demand for mustard oil and meal from domestic and overseas buyers also weighed on seed prices.
Mustard output to fall 9% on year to 6.4 mln tn in 2017-18 (Oct-Sep) because of lower acreage. Acreage was hit due to low soil moisture in Rajasthan, the top grower, and shift to other crops for better realisation. However, the USDA arm expects India’s mustard meal exports to double to 500,000 tn in 2017-18. Imports of mustard oil are seen rising to 500,000 tn from 325,000 tn a year ago. Mustard accounts for 25% of the country’s total oilseed production and comprises about 80% of rabi oilseed basket. The US agency estimated India’s 2017-18 soybean production at 9.0 mln tn, down 0.5 mln tn from the preceding year due to lower-than-expected yields. The Foreign Agriculture Services expects kharif oilmeal exports to rise to 810,717 tn in 2017-18, from 600,499 tn a year ago. The agency has projected India’s 2017-18 edible oil imports at an all-time high of 16.6 mln tn
Prices of mustard seed fell in Jaipur due to subdued demand for mustard meal and oil from domestic stockists. A surge in arrivals also put pressure on prices of mustard seed. In Rajasthan, arrivals of the oilseed were estimated at 275,000 bags.
Prices of mustard seed rose in Jaipur due to a fall in arrivals coupled with improved demand from domestic stockists and oil millers. Supply of the commodity fell as farmers withheld their produce on expectations of a further rise in prices in the coming days.
Mustard oil exports to continue in packs only up to 5 kg. Minimum export price of $900/tn for mustard oil to continue. The Union Cabinet allowed export of all edible oils in bulk, barring mustard oil. Earlier, edible oil exports were allowed only under branded consumer packs of up to 5 kg. Removal of export restrictions is aimed at opening new marketing avenues for Indian edible oils, which in turn would benefit oilseed farmers in the country by way of better realisations. The move would also help in utilisation of idle refining capacity in domestic edible oil industry. Export of mustard oil, however, would continue only in consumer packs of up to 5 kgs with a minimum export price of $900 per tn.
In Haryana, more than 50,000 quintals of mustard at the rate of Rs 4,000 per quintal has so far been procured by HAFED.
Mustard seeds declined further to 3,950 a quintal (down 300 from last week) with further rise in arrival of new crop across the country. Plant deliveries of mustard seeds for Jaipur line were also lower at ?4,020-25 a quintal.
Rape oil production fell to 0.777 KMT in February 2018, i.e. by 20% against January 2018 and by 20% against February 2017 (0.947 KMT).
Prices of mustard seed were down in Jaipur, Rajasthan owing to lacklustre demand for mustard oil from domestic and overseas buyers. A rise in arrivals coupled with tepid demand from domestic oil millers and crushers also weighed on prices of mustard seed. There is bearishness in the market as supplies are likely to rise in the coming days.
Ukraine in January-February 2018 exported 84.23 thou. tons of rapeseed, which is 29.89% more than over the same period last year. For the year 2017 Ukraine traded abroad 2.14 million tons of rapeseed for the amount of USD 881.67 million. The major importers were the Netherlands, Belgium and Germany.
Mustard Seed For 2017-18, exports are forecast to be slightly lower at 120 Kt and carry-out stocks are forecast to fall. The US and the EU are the main export markets to date for Canadian mustard seed. The average price is forecast to rise sharply from the previous year due to the lower supply and expectations for lower Canadian carry-out stocks. For 2018-19, the area seeded is forecast to be like the previous year due to expectations of similar returns based on new crop contracts. Production is forecast to rise to 145 Kt with marginally lower area but higher yields when compared to the previous year. However, supply is expected to fall by 10% due to lower carry-in stocks. Exports are expected to be higher and, as a result, carry-out stocks are forecast to tighten. The average price is forecast to be slightly higher than 2017-18.