Mustard seeds in Madhya Pradesh mandis have been trading higher for the past some time with demand outstripping availability.
Given depleting domestic stock and dependency on Nafed stock, future of mustard seeds appears bullish until the arrival of new crop, said Suresh Mantri, a mustard seeds trader from Neemuch.
Mustard seeds (Nimari) today ruled at ₹ 4,850-75 a quintal. On the other hand, in Neemuch mandi, mustard seeds (best quality) ruled at ₹ 4,920-5,090, mustard seeds (medium) at ₹ 4,775- 4,870, while mustard seeds (average) was quoted at ₹ 4,650- 4,740 a quintal, respectively.
In futures also, mustard seeds were quoted higher with its November and December contracts on the NCDEX today closing at ₹ 5,550 (+12) and ₹ 5,560 (+16) a quintal, respectively.
Weak availability of mustard seeds with the crushers also lifted plant deliveries for Jaipur line today to ₹ 5,680-85 a quintal. The arrival of mustard seeds across the country today was recorded at 1.10 lakh bags. Rajasthan led the arrival with 65,000 bags, followed by Uttar Pradesh with 15,000 bags, Madhya Pradesh/Gujarat/Punjab, Haryana - 5,000 bags each, while 15,000 bags were offloaded elsewhere in the country.