Mustard rates up 6% in past mo on rising edible oil prices - Kedia Advisory
This story was originally published at 21:54 IST on 25 May 2026
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NEW DELHI – Mustard seed prices have risen nearly 6% in the past 30 days to INR 7,823.90 with supply disruptions in the Strait of Hormuz raising prices of various edible oils, Kedia Advisory said. Additionally, the government has raised the minimum support price for mustard seed by INR 250 to INR 6,200 per 100 kilograms, offering downside support.
In April, mustard seed prices had declined 3% to INR 7,249.80 as peak arrivals pressured market prices despite supportive long-term demand fundamentals, Kedia Advisory said. "Demand fundamentals remained supportive with mustard oil consumption projected at 3.8 million tonnes and crude mustard oil exports rising 5% YoY," it added.
If mustard seed prices manage to close above INR 7,950 on a weekly basis from the current INR 7,800 levels, prices may rise sharply towards INR 8,100 levels amid mixed supply conditions, Kedia Advisory said. Arrivals have increased 13% on year to 1.23 million tonnes, improving near-term availability. However, mustard seed production is estimated to decline 4.5% to 12.67 million tonnes due to adverse weather conditions and poor rainfall, it added.
However, the brokerage also sees room for price corrections amid rising arrivals and improving global rapeseed supplies. A break below INR 7,680 may trigger a decline towards INR 7,560–INR 7,500 levels initially in the next 1-2 months. On the upside, the resistance is seen at INR 7,950.
Meanwhile, sustained trading below INR 7,300 could trigger further downside towards INR 7,150, followed by INR 7,020 in the next three months. For the period, the brokerage sees resistance around INR 8,000. "Technical indicators including overbought RSI and rising wedge formation continue signaling corrective weakness," Kedia Advisory said. "Additionally, improving global rapeseed production and comfortable edible oil supplies may cap recovery attempts." End
Reported by Afra Abubacker
Edited by Rajeev Pai
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