Mustard

The ICE Futures Canada canola market ended mixed. The front-month July contract was boosted by gains in soyoil while the more deferred contracts were pressured by strength in the Canadian dollar. Traders were positioning themselves ahead of North American stocks data. Spring seeding is in full bloom and most farmers are too busy to do much selling, which lifted the market. As well, some parts of Alberta are currently too wet to seed. Most analysts expected U.S. ending stocks to be around around the 2.18 billion bushel mark, which would be slightly bearish for prices.

Prices of mustard rose in Jaipur due to rising demand from domestic oil millers and crushers. Mustard crushing across the country was estimated at 800,000 tn in March, more than double of 375,000 tn in the previous month. A fall in arrivals also supported prices of mustard seed.

Prices of mustard rose marginally in Jaipur as arrivals of the oilseed in local markets declined amid higher crushing activity by mills. However, futures contracts of mustard declined as traders booked profits after the May contract hit a two-week high. The most active June contract slipped a tad to 3,901 rupees per 100 kg while the May contract was down 7 rupees at 3,862 rupees.

The Madhya Pradesh government has declared an incentive of 100 rupees per 100 kg on minimum support price for mustard and masur to registered farmers. The incentive will be provided to the farmers who have harvested the crops in 2017-18 (Jul-Jun) rabi season.

The Haryana State Cooperative Supply and Marketing Federation has so far purchased over 1.76 lakh metric tonnes of mustard during the current purchase season. As many as 91,625 farmers have so far been benefited with this purchase. 39,738. 50 metric tonnes of mustard has been purchased in district Bhiwani, 8,275.

Prices of mustard seeds were up in Jaipur due to improved demand from crushers and oil millers. Mustard crushing across the country was estimated at 800,000 tn in March, more than double from last month’s 375,000 tn. A fall in arrivals also supported prices of mustard seed. Export demand for mustard meal also supported prices in the domestic market.

Rise in new arrivals.Mustard crushing across the country was estimated at 800,000 tn in March, more than double from last month’s 375,000 tn. In March, mills increased crushing operations after new crop arrivals increased. A crucial rabi oilseed crop, mustard is sown during Sep-Oct and is harvested from February. New crop arrivals begin in February, and gain momentum by March. The arrivals remain in full swing till May and start dwindling from June. In March, total arrivals of mustard seed were estimated at 1.1 mln tn. The supply in Rajasthan, the largest grower, were at 550,000 tn, Uttar Pradesh at 190,000 tn, Madhya Pradesh and Chhattisgarh together were at 80,000 tn

Prices of mustard seed rose in Jaipur on demand from oil-millers. On NCDEX, the most-active May contract was at 3,800 rupees per 100 kg, up 12 rupees. Short covering by market participants along with gains in spot markets led to a rise in May contract.

Russian rapeseed exports in July-February 2017/18 expanded to 178.8 KMT that is already almost three times as much as for the whole of MY 2016/17 (68.7 KMT). In addition, this is an all-time high for this period. Rapeseed supplies from Russia totaled 5.1 KMT in February 2018 that was down 39% from January 2018 (8.4 KMT) and down 9% from February 2017 (5.6 KMT). The top rapeseed importers were China (56% of total exports) and Mongolia (20%).

The average daily air temperature climbed over 100? on April 1-10 (on April 11-22 in the northeasternmost areas), or 10-25 days ahead of the long-term average. At the time, precipitation in Sumy, Kharkiv, Dnipropetrovsk, Donetsk regions amounted to 54-69% of normal (7-9 mm). Odesa, Cherkasy, Zakarpattya regions, most parts of Mykolaiv, Kherson, Kirovohrad regions and single areas in Kyiv, Chernihiv, Vinnytsia, Lviv and Rivne regions received no precipitation at all. Winter rape plantings are at the stages of stem growth, emergence of inflorescence, and even at the beginning of bloom in some southern areas. Their condition is mostly good and fair, being poor in some northern areas

Prices of mustard seed hit a two-week low in Jaipur, Rajasthan, due to a rise in arrivals amid lacklustre demand from domestic oil millers and stockists. Prices of mustard seed hit a two-week low in Jaipur, Rajasthan, due to a rise in arrivals amid lacklustre demand from domestic oil millers and stockists.

In restricted activities, mustard oil prices drifted lower by Rs 50 per quintal owing to sluggish local demand. However, other edible and non-edible oils moved in a narrow range in scattered deals and settled around overnight levels. Sluggish local demand against ample stocks position, mainly weighed on mustard oil prices.

Rape oil production gained 23% in MY 2017/18 (July-February), reaching 258.9 KMT versus 210.3 KMT a year ago. 32.4 KMT of rape oil was produced in Russia in February 2018 versus 30 KMT in the previous month and 22 KMT in February 2017. Monthly production volumes of rape oil have steadily been up year-on-year since the beginning of MY 2017/18, expect for a minor downturn in January. The same trends are seen in rapeseed crushing in Ukraine. Rape oil production is high up 25.7% in the first eight months of the 2017/18 season compared to the previous one. In July-February Ukrainian oil and fat industry produces 81.0 KMT of rape oil against 64.5 KMT a year ago due to more active crushing of rapeseed in August-September 2017.

Mustard futures on the NCDEX may fall because of surging supply in domestic markets and subdued demand from oil millers.

Prices of mustard seed fell in Jaipur, Rajasthan, due to subdued demand from domestic stockists and millers. A rise in arrivals also weighed on prices.

The Haryana State Cooperative Supply and Marketing Federation has so far purchased over 1.20 lakh metric tonnes of mustard during the current purchase season. 24,960.64 metric tonnes of mustard has purchased in district Bhiwani.As many as 62,966 farmers have so far benefited with this purchase.

Prices of mustard seed hit a two-week high in Jaipur, Rajasthan, due to a fall in arrivals along with improved demand from stockists. Improved demand for mustard meal from domestic and overseas buyers also supported prices of the oilseed.

Prices of mustard seed were up in Jaipur, Rajasthan owing to improved demand for mustard oil and meal from domestic stockists, oil millers and crushers. A fall in arrivals also supported mustard seed prices. Export demand for mustard meal also supported prices in the domestic market.

Prices of mustard seed in Jaipur fell because of India Meteorological Department’s forecast of normal monsoon, which lifted expectation of a better crop for kharif oilseeds in 2018-19 (Jul-Jun). Arrivals of mustard seed fell to 200,000 bags in Rajasthan, down from 220,000. As on Apr 16, warehouse stocks were at 75,507 tn compared with 60,149 tn a week ago.

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.