Weak sentiments post the news of stock liquidation by government will keep prices under pressure. With the trade channels filled ahead of the Ganapati festival, demand may remain muted for the coming week. Prices in the Delhi market are likely to decline to Rs 4,250 from the current level of Rs 4,263 per quintal.
Mustard seed prices at the Jaipur spot markets are trading at Rs 4,183 per quintal. Going forward prices are expected to trade with downward bias and head towards Rs 4,140-4,145 per quintal. Negative processing margins and huge stocks with government will keep the undertone weak.
Research Head - Edelweiss Agri Services and Credit