Mustard Prices Tumble Across Rajasthan and Haryana Amid Festive Lull and Oversupply

Mustard prices have been under consistent pressure over the past five days, and market trends have confirmed earlier warnings. In Jaipur, mustard prices fell to ₹7,050 per quintal after breaching the ₹7,200 support level, marking the weakest point in the last two months. In Bharatpur, prices dropped further to ₹6,625 per quintal. Several factors are contributing to this decline. Firstly, demand during the festive season remains sluggish. Additionally, ongoing government sales by NAFED are maintaining steady supply in the market. Meanwhile, the availability of cheaper blended oils is impacting the demand for pure mustard oil. In Jaipur, raw mustard oil is now trading at ₹1,452 per 10 kg, with regions like Bundi, Kota, and Bharatpur witnessing a further decline of ₹20–30 per 10 kg. Mustard cake prices have also seen a sharp drop. Jaipur recorded a fall of ₹95 to ₹2,405, while in Charkhi Dadri, prices slipped to ₹2,340. Global markets have not provided much support either, with soybean oil on the CBOT trading below 50, keeping domestic mustard oil prices under pressure. It is suggested that unless demand improves, there is limited scope for a price rally in mustard. While some minor uptick may occur due to Dussehra-related buying at lower levels, traders are likely to offload stocks, preventing significant gains. Overall, the bearish trend is expected to continue, with mustard oil potentially dropping another ₹2–3 per kg and mustard seeds by ₹150 per quintal.

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