Mustard may rise on winter demand
Mustard oil prices increased in mandis across Madhya Pradesh and Rajasthan on Thursday, notwithstanding slack demand as the futures market rose.
On Thursday, mustard oil in Indore mandis quoted at Rs 710 (up Rs 4). Similarly, in Neemuch it quoted at Rs 702 (up Rs 2). .
However, compared with last week, mustard oil is ruling Rs 2 lower in Indore. In Rajasthan mandis, mustard oil ruled high adidas football er with prices in Kota and Ganga Nagar ruling at Rs 720 each (up Rs 5), while it Jaipur it quoted at Rs 730 (Rs 5).
I adidas football n comparison, weak arrivals lifted plant deliveries of mustard for Jaipur line on Thursday to Rs 3,855 60 a quintal (Rs 3,815 35 a quintal last week).
Mustard ruled firm at Rs 4,900 5,100 a quintal (down Rs 100 from last week), while raida ruled at Rs 3,300 3,350 a quintal (down Rs 50 from last week).
In the adidas football futures market, mustard traded higher on improved buying support with December and January contracts on the NCDEX closing at Rs 3,822 a quintal (up Rs 39) and Rs 3,899 (up Rs 39) respectively.
According to a trader, mustard is likely to rule flat in the physical market for a few days but with demand expected to rise due to winter, it may gain further.
This year, mustard plantings may rise due to favourable climatic conditions and soil moisture.
Arrivals across mandis in the country on Thursday were one lakh bags (1.5 lakh bags last week) with Rajasthan topping at 55,000 bags, followed by Uttar Pradesh (15,000 ), adidas football Punjab/Haryana (10,000 ), Madhya Pradesh (8,000) and Gujarat (5,000). Some 7,000 bags were offloaded elsewhere in the country.