The month of June enjoyed a stable rise of the mustard seed pricing across India for its four varieties. But things are likely to change very soon, according to the analysts. The chances of the prices going up for the stock of mustard is likely to be 20 per cent. So for the next eight months, with 4.1 million to 4.2 million tons of mustard available, it is 80 per cent likely there will be a dip in the market.
So far, even though the prices may stay stable for the next few months, it is likely to change with the increase in demand due to the festival seasons coming soon along with the wedding season. Also, the lift in the lockdown due to the COVID-19 getting relaxed, the domestic demand will rise.
Brown Mustard Seeds Micro Machine Clean and Bold Machine Clean on July 1 was 0,956 $/kg FOB. While Micro Machine Clean rose to 1007 and closed at the same price, Bold Machine Clean rose to $ 1,01 /kg FOB, then dipped at $ 0,986 /kg FOB before gaining momentum and rising to $1,05 /kg FOB and closing at the same.
Yellow Mustard Seeds Micro Machine Clean was $0,996 /kg FOB at the mouth opening and rose to $1,06 /kg FOB before going down to $1,04 /kg FOB. It closed at the same price. For Yellow Mustard Seeds Bold Machine Clean, the price was 1,10 $/kg FOB on July 1 that rose to $1,17 /kg FOB before falling to $1,14 /kg FOB and closing at the same price.
With still seven to eight months to go for the new crop’s arrival, the less availability of the stock of mustard in the market will affect the prices immensely. Furthermore, the above prices indicate that there is already heavy fluctuation in the price of mustard seeds.
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