Mustard

The rain spell on Tuesday over the northern plains leading to drop in temperatures and cold weather conditions would benefit standing rabi crop, especially wheat, gram and mustard. The weather office has forecast cold wave conditions to continue over Punjab, Haryana, west UP and north Rajasthan for the next two days. It is especially beneficial for wheat, gram, mustard and other rabi crops.Overall the acreage is down for oilseed, but if the rains in January and February are good then we can make up in yields. Mustard requires 2-3 spells of rain and the current spell will be beneficial

Rapeseed is now becoming once again a topical subject for the oilseed sector of agriculture. Remarkably, this involves not only forecasts for the next season 2018/19, but also expectations about the results of the current marketing year. Seemingly, the most active part of MY 2017/18 for the rapeseed market is already over and its final results can be stated with high probability, but the current season’s trends make us adjust the supply and demand balance for this oilseed. The brisk pace of rapeseed exports seen in the first half of MY 2017/18 suggests that Ukraine will ship abroad up 1045 KMT from MY 2016/17. So, it is going to hit a four-year high.

Prices of mustard seed were up at Jaipur in Rajasthan due to demand from crushers. There is good demand for the oilseed for mustard meal. Gains in soybean prices were also seen supporting mustard prices. The most active April futures of mustard seed on the NCDEX are up 0.7% at 4,102 rupees

Arrivals of mustard seed from the new crop have commenced in the key market of Kota in Rajasthan, but low demand for the commodity weighed on prices. Prices of the oilseed were down compared to last year, due to lacklustre demand from domestic oil millers and crushers. The new arrivals, which contain 18-20% moisture.

According to the National Statistics Committee of the Republic of Belarus, soybean imports grew to 106 KMT in the first 11 months of 2017 that is up 51% year-on-year. Rapeseed supplies decreased 21% to 4.2 KMT. At the time, the key soybean exporter to the country was Ukraine (106 KMT), while the rapeseed was supplied mostly by Russia (3.9 KMT).

Prices of mustard seed were down in Jaipur because of weak demand from domestic oil millers and crushers. The arrivals in Rajasthan, however, were unchanged. On NCDEX, the most-active April contract of the oilseed was down 1 rupee from the previous close.

Mustard seed prices down in Jaipur on weak demand

Frost in Sri Ganganagar, Rajasthan damages mustard crops, situation to improve.

Mustard seed prices down in Jaipur as arrivals rise

Mustard seed prices up in Jaipur as acreage down

Prices of mustard seed were up in Jaipur because of higher demand from oil millers. Futures contracts of mustard seed on NCDEX, however, traded lower due to higher expiry stocks. The most-active April contract of mustard seed on NCDEX ended down 0.6% from the previous close. Higher volumes of expiry stocks for January delivery are seen creating bearish sentiment

Prices of mustard seed fell in the benchmark wholesale market of Jaipur in Rajasthan due to subdued demand for the oilseed from oil mills. Futures contracts of mustard seed on NCDEX, however, traded higher tracking gains in soybean contracts. The most-active April contract of mustard seed on NCDEX traded up 1% from the previous close.

Mustard oil prices softened by Rs 50 per quintal in an otherwise steady wholesale oils and oilseeds market owing to sluggish local demand. Castor oil in the non-edible section, also eased on reduced offtake by consuming industries. Sluggish demand from local parties, mainly weighed on mustard oil prices. National Commodity and Derivative Exchange, mustard seed to be delivered in January declined 0.62 per cent.The delivery for the most-active February fell 0.53 per cent, clocking an open interest of 34,640 lots.

Ukraine exported 2.2 KMT of rape oil in November 2017 against 8.9 KMT in the previous month and 10.8 KMT in November 2016. A total 59 KMT of this product was supplied to foreign markets in MY 2017/18 (July-November), or almost 4% less than at the same time last year (61.4 KMT). The reason is a significant rise in rapeseed exports, which more than doubled. The first months of the current season feature a decline in the end markets for Ukrainian rape oil. The number of importing countries almost halved against last year. As before, the bulk was exported to European countries (86% of total exports). China stepped up rape oil purchases from Ukraine more than three times and accounted for 13% of total exports.

IMD’s Agrimet has asked farmers in Bihar to control white rust disease in mustard crop. Humid weather conditions are ideal for the spread of white rust in mustard crop. The rust causes swelling and distortion of the stem and floral parts, which eventually hits the yield.

Crushing of mustard by oil mills across the country fell 10.5% on month to 425,000 tn in December. After a three-month consecutive rise, crushing declined in December as arrivals in key markets fell. A crucial rabi oilseed crop, mustard is sown during Sep-Oct and harvested from late January. Supply of the new mustard crop began in February and gathered pace in March. Arrivals were in full swing until May, but began shrinking from June onwards, heralding the lean period. Since the beginning of crushing season in February, oil mills have crushed about 5.7 mln tn mustard seed against the total supply of 5.8 mln tn. Production of mustard in 2016-17 (Jul-Jun) was estimated at 6.7 mln tn, higher than 5.8 mln tn in the previous year, owing to improved yields and conducive weather.

Prices of mustard seed rose slightly in Jaipur due to recovery in demand from domestic oil millers and crushers. Concerns of an 8-10% decline in the output of the oilseed in 2017-18 (Jul-Jun) is seen creating positive sentiments. The most active January futures were up 24 rupees at 3,962 rupees per 100 kg on the NCDEX.

IMD’s Agrimet has advised farmers in Chhattisgarh to control the spread of aphids in mustard crop. Due to previous cloudy weather condition in the state, the incidence of aphids in mustard crop is likely to increase. Farmers have been advised to keep a watch and spray pesticides if the infestation is above economic threshold level. The state has sown mustard across 138,000 ha as of Thursday, up 14% from a year ago.

The January contract of mustard seed rose on the NCDEX as investors covered their short positions after prices hit a near-two-month low. The January contract was at 3,961 rupees per 100 kg, up 0.5% from the previous close. Prices had fallen in the past two trading days due to lacklustre demand from oil millers. Lower mustard acreage this year further supported prices of the oilseed.

Rape oil production by Ukraine’s large and medium-sized crushers fell to a four-year low of 0.131 KMT in November 2017. Nonetheless, the results of the first five months of MY 2017/18 are 33.8% higher than a year ago: 79.1 KMT against 59.1 KMT, respectively.