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Informist, Thursday, Sep 5, 2024

 

MUMBAI – Arrivals of mustard seed across the country in August are estimated at 600,000 tn, according to a report by Jaipur-based Marudhar Trading Agency. The agency has revised its estimates of total production for the entire 2024-25 (Apr-Mar) marketing season to 11.5 mln tn against an earlier estimate of 12.3 mln tn. 

 

Mills across India crushed around 1.0 mln tn of mustard seed in August, the report showed. "Millers were buying in bulk and crushing was high during August due to demand ahead of the festival season," a trader from the agency said. Crushing usually remains high during July and August as major festivals occur during these months, he added.

 

The government's procurement of mustard ended in July. Total procurement by the government from March to June was 2 mln tn, and there was no procurement after that, according to data by the agency. 

 

"Currently, mustard prices are at 6,400 rupees per 100 kg, but it is unlikely to rise above these levels, and remain range bound, until the upcoming 2024-25 rabi season," a Jaipur-based trader said. 

 

The total stock across the country at the end of July is estimated at around 5.5 mln tn, including stocks of around 2.3 mln tn with farmers. Inventories with stockists and processors are seen at 700,000 tn and those with agencies like National Agricultural Cooperative Marketing Federation of India Ltd were at 2.55 mln tn, as per the report.

 

In 2020-21, mustard production in the country was at 8.6 mln tn, which rose to 11.0 mln tn in 2021-22, and to 11.3 mln tn in 2022-23, according to The Solvent Extractors' Association of India. There has also been expansion in cultivation areas each year, with 6.7 mln ha sown in 2020-21, 8.8 mln ha in 2022-23, and 10 mln ha in 2023-24.  End

 

Reported by Taniva Singha Roy and Anjali Lavania

Edited by Vidhi Verma

 

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