Mustard Report
The past week saw a mixed trend in mustard prices. Prices remained within a limited range due to the shortage of old stock and the growing arrival of new crops. Jaipur Mustard Agri World provided support at ₹6025, leading to a recovery in prices. There was strength in cake prices, while oil prices remained stable. Mustard Cake Report: Due to China increasing the import duty on canola from Canada, demand is shifting, and China is now turning to India for imports. In the previous weekly report, KVI had informed about export demand for mustard cake. There is good support around ₹2000 for mustard cake, and buying is recommended from this level. Mustard Oil Report: The demand for mustard oil is expected to remain strong due to the smaller price gap with other oils. The tight supply of soy oil and palm oil is also positive for mustard oil. In the long term, mustard oil is expected to rise by ₹10-15 per kg from lower levels. Jaipur Kachi Ghani has strong support at ₹1250, where long-term buying is advised. Mustard Production and Prices: The production of mustard is expected to be weaker this year, and with prices below the MSP, government procurement is expected to be good. Government procurement will begin at MSP in Rajasthan from April 10, which is expected to curb the price decline of mustard. Since most of the old stock is with the government, traders will have to rely on the new crop. Considering all factors, it is advised to stock up by April 10. The support in Jaipur remains at ₹6025, and the bottom range may be between ₹5850-6000. Risk near ₹6000 will be only ₹150, so buying near ₹6000 is recommended.