Mustard Commodity Prices May 08

(Indicative Mustard Prices in US$ PMT FOB port, India)

30th May
Mustard Seed - US$ 725-750

The prices as expected jumped up after declining earlier in the week. The correction shown earlier was too much to be stable at that price.

27th May
Mustard seed - US$ 715-735

The prices of mustard went down after firming up last week. The stockists tend to sell the produce on higher prices and stop offering it when prices are on lower side. The prices cannot be expected to go down substantially, in fact may show some jump in coming days.

24th May
Mustard seed - US$ 750-770

The ban on futures of soy oil is making the mustard prices go higher in these days as import contracts of edible oil are slowing down due to lack of future price movements which otherwise can help importers to negotiate prices. As now there is no future price mechanism the quantity for import is going to be cut down to avoid any losses due to any speculative spot price movement. Mustard oil is widely used in India for consumption which has rose demand for crushing and thus leading to higher mustard prices.

21 May
US$ 720-740

9th May
Mustard Seed - US$ 795-815
the prices of oilseeds have jumped up after soyoil futures trading was banned. prices of soyoil is the base factor for prices of all vegetable oils and oilseeds in India.

5 May
Mustard seed - US$ 750-770
slight improvement once again seed in mustard prices

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