Prices of mustard fell in benchmark Jaipur market amid high inventories and steady arrivals. Arrivals across the country were pegged at 145,000 bags (1 bag = 85 kg), unchanged from the previous day. Futures contracts of mustard also fell on the NCDEX, tracking the decline in spot rates. Worries of lower acreage this season are, however, seen cushioning the fall in prices.
Malaysia CPO ends 2% lower on CBOT soyoil cues
Futures contracts of crude palm oil fell 2% on the Bursa Malaysia Derivatives tracking losses in soyoil contracts on the CBOT. The most-active March contract of crude palm oil on the Malaysian bourse closed at 2,449 ringgits (38,489.67 rupees) per metric tonne, down 2% from the previous close. Lower demand for crude palm oil further weighed on the prices. Demand for palm oil demand weakens during winters, as it tends to solidify in low temperatures, pushing buyers to rein in purchases.