look news india
New Delhi: Mustard production is expected to increase with increase in sowing. Due to which the price of mustard is softening and its prices are falling below the Minimum Support Price (MSP). According to experts, its prices may fall further. Apart from this, weak demand is also being considered as the reason for the fall in mustard prices.
Jaipur market is considered the benchmark market for mustard in Rajasthan. At present the wholesale price of mustard in this market is around Rs 5,400 to 5,450 per quintal. The MSP of mustard is Rs 5,650 per quintal. Obviously, mustard prices are trading below the MSP. Its price has fallen by Rs 100 per quintal in a week.
A commodity analyst said that bumper production of mustard is expected this year. Due to which softening of mustard prices is being seen. The demand for mustard from oil mills is also weak at present. This has also strengthened the fall in prices. In future, the pressure of arrival of new mustard in the market will increase.
In such a situation, the price of mustard may fall further. Under the pressure of new mustard, its price may come down to Rs 5,000. There is a possibility of improvement in the price only when government procurement of mustard starts.
However, this improvement is also not going to be much as there is abundant availability of edible oils in the country. This year mustard has been sown in abundance. According to the final government figures of Rabi crop sowing, mustard has been sown in 100.43 lakh hectares in the country. In the same period last year, this figure was 97.96 lakh hectares. In this way, there has been an increase of more than 2.5 percent in mustard cultivation this year.
In Rajasthan, the highest producing state of mustard, its sowing has decreased compared to last year. But due to increase in sowing in three other important mustard producing states Uttar Pradesh, Madhya Pradesh and Haryana, the total area under mustard is more. Due to increase in total sowing the weather is also favorable for this crop.