Mustard

Prices of mustard seed were up in the benchmark Jaipur market due to bargain buying after price hit a two-month low. A fall in the arrivals of oilseed coupled with renewed demand from oil millers and crushers supported mustard seed prices.

Prices of mustard seed in the benchmark market of Jaipur hit a two-month low down 20 rupees, due to a surge in arrivals. Tepid demand from domestic oil millers and crushers is also seen weighing on prices.

The National Agricultural Cooperative Marketing Federation of India began procurement of mustard, and has bought 19 tn of the commodity at the minimum support price in three districts of Rajasthan. The fall in mustard prices was due to subdued buying by dal millers, as well as higher arrivals of the fresh crop in major markets. Estimates of a bigger crop also weighed on sentiment.

Production of mustard in India in 2017-18 (Jul-Jun) is estimated at 7.2 mln tn, up from 6.9 mln tn the previous year. The expected growth in production is because the yield in key growing areas across the country is seen higher on year due to favourable weather conditions. the average yield in 2017-18 is pegged at 1,100 kg per ha, up from 1,025 kg a ha the previous year. The expected rise in is despite lower acreage. The area under the oilseed across the country is at 6.4 mln ha against 7.1 mln ha a year ago.

Oil mills across the country crushed 375,000 tn of mustard seed in February, up 15% on month. In January, mills had crushed 325,000 tn of the oilseed. Mills increased crushing in February after new crop arrivals in key markets gathered pace as the harvest progressed. New crop mustard arrivals begin in February and gain momentum in March. Till May, arrivals are in full swing and start dwindling June onwards.

The Haryana government has begun procurement of mustard at the minimum support price in the state to support falling prices. The Centre approved the proposal of the Haryana government to allow procurement of 237,250 tn of mustard harvested in 2017-18 (Jul-Jun) in the state at the minimum support price of 4,000 rupees per 100 kg, including a bonus of 100 rupees. Mustard was procurement in 11 districts including Gurugram, Rohtak, Karnal, Charakhi Dadri, and Hisar. Haryana is among the leading growers of mustard. The Centre has also approved the procurement of 800,000 tn mustard in Rajasthan.

Prices of mustard seed rose in the benchmark market of Jaipur due to renewed demand from oil millers and crushers. Also, as the government approved 800,000 tn mustard procurement in Rajasthan, oilseed prices were supported. A rise in arrivals of the oilseed, however, capped sharp gains in prices.

Mustard seed contracts were down on the NCDEX tracking bearish movement in the soyoil contracts. Mustard oil and soyoil are cooking oils and are used as substitutes. Expectations of higher arrivals of the oilseed in the coming weeks is seen weighing on the prices of mustard seed. However, prices of mustard were up in the spot markets because of demand from oil millers.

Futures contracts of mustard seed fell 1.7% on the NCDEX due to expectation of a spike in crop arrivals. The most active April futures contract was down 1.7% at 4,167 rupees per 100 kg. Output in Uttar Pradesh and Madhya Pradesh is expected to be higher than estimated.

Winter rapeseed had emerged on 98.6% of its planted area of 1009.8 Th ha. This includes 56.2% (559.8 Th ha) of plantings currently in good condition, 0.1% (1.0 Th ha) of winter rape had been lost. Ukrainian farmers have started spring field work. By March 02, winter rapeseed nutrition has been carried out on 184.3 Th ha or 18% of the planted area (1009.8 Th ha) compared to 186 Th ha last year.

Prices of mustard seed fell in Jaipur, Rajasthan, due to a surge in arrivals coupled with lacklustre demand from domestic millers and crushers. Improved harvesting activities in northern region also impacted market sentiments negatively.

Futures of mustard seed on the NCDEX fell due to higher daily arrivals amid tepid demand from oil millers. Weakness in other edible oils, particularly soyoil, and sluggish demand from oil millers is seen weighing on prices of mustard.

As temperatures rise in the season, the crops of mustard crop are ready. Farmers have started harvesting mustard crops. Mustard seeds have been planted in 50 thousand hectares of mustard in the district. Due to the favorable weather conditions, high production of mustard is expected. The arrival of new mustard in Anaj Mandi also started.

Futures contracts of mustard seed were up on the NCDEX, owing to improved demand for mustard meal from overseas buyers. Exports of mustard meal were up at 42,231 tn in February, as compared to 22,858 tn, the same period a year ago.

Prices of mustard seed rose in Jaipur, the benchmark market, due to improved demand from domestic oil millers and crushers. A fall in arrivals also supported the prices. Production of the oilseed in the country has been pegged lower in 2017-18 (Jul-Jun), which is creating bullish sentiment in the market.

Prices of mustard seed rose in Jaipur, the benchmark market, as production of the oilseed in the country has been pegged lower in 2017-18 (Jul-Jun). A fall in arrivals also supported prices of mustard seed.

Prices of mustard seed fell in the benchmark market of Jaipur, Rajasthan due to a rise in arrivals. Weak demand from domestic oil millers and crushers also weighed on prices.

Mild to moderate showers accompanied by hailstorm on Sunday noon made farmers, especially in eastern Rajasthan, jittery.With the harvest of crops, including wheat, mustard and barley, almost a fortnight away, this spell of unprecedented rainfall and hailstorm affected the crops.

India’s mustard output in 2017-18 (Jul-Jun) is estimated to decline 3.8% on year to 6.33 mln tn. The mustard output figure does not include toria and taramira varieties. The production of the two varieties is estimated at 150,000 tn. Likely lower output in Rajasthan is seen pulling down overall mustard production. Farmers shifting to lucrative crops such as chana and wheat led to a drop in the acreage, resulting in lower output. India’s carryover stock of mustard seed at the end of February is seen at 0.4-1.0 mln tn, higher than 0.2 mln tn a year ago, mainly due to disparity in crushing of the oilseed for meal and oil.

Prices of mustard seed fell in the benchmark market of Jaipur due to lacklustre demand from domestic oil millers and crushers. Expectations of better yield and a likely rise in arrivals of the oilseed after the festival of Holi is leading to bearishness in the market.