Mustard procurement tops 9.19 lakh tonnes

Mustard purchase exceeded 9.19 thousand tons as of June 27 in the current spring marketing season. The total value of mustard purchased at the lowest support price of US$5,490 per quintal exceeds ₹5,011 crore, according to the latest data from NAFED.

More than 3.84 farmers have benefited from mustard purchase so far. Procurement is still going on in some states like Rajasthan, Uttar Pradesh and Gujarat.

Haryana tops the list of states where mustard is bought from, followed by Rajasthan and Madhya Pradesh.

In Haryana, more than 3.47 thousand tons of mustard worth Rs 1,891.72 crore were purchased. Similarly in Rajasthan, more than 2.94 thousand tons of mustard worth Rs 1,605.68 crore were purchased. In Madhya Pradesh, more than 1.67 lakh tons of mustard, worth Rs.

According to the second pre-estimation, rapeseed mustard production during 2022-23 reached a record high of 128.18 thousand tons, compared to 119.63 thousand tons in the previous year.

Meanwhile, the downward trend in edible oil prices and the rise in imports continue to affect mustard prices. India’s imports of edible oils increased by about a fifth during the period from November to May of the 2022-23 oil year, at 9.05 million tons, compared to 7.54 million tons in the same period of the previous oil year.

In Rajasthan, the largest producing state, standard prices for mustard range from $4,250-5,100 per quintal, below the MSP of $5,490. However, the prices have shown some improvement in recent days.

The downward trend in mustard prices has made Indian rapeseed meal and mustard competitive in export markets such as South Korea, Vietnam, Thailand and other countries in the Far East. According to the Solvent Extractors Association of India, shipments of rapeseed powder hit a new record at 22.96 thousand tons in FY23. In the current financial year, rapeseed powder exports were 4.8 thousand tons during April-May compared to 3.98 thousand tons in the same period. period last year.