Spot Market Update: Mustard seed Extends Losses On Fragile Demand

Poor oilmeal demand has eroded mustard seed prices in local mandies. As per the latest release of Solvent Extractors Association of India (SEA), the export of oilmeals during May 2019 provisionally reported at 58,549 tons compared to 263,644 tons in May, 2018 i.e. down by 78%. The overall export of oilmeals during April-May 2019, reported at 313,134 tons compared to 487,995 tons in April-May 2018 i.e. down by 36%. The spot prices decreased by more than Rs 15 per quintal today in Jaipur, while arrivals were reported in the range of 1.20-1.25 lakh bags.