Mustard Oil Price Update: Govt Reveals New Rates for This Festive Season, Know latest Prices
Mustard oil prices have surged 34% in a year, staying costlier than other edible oils despite recent government stock releases and higher arrivals. Strong demand keeps prices elevated, with experts projecting rates between ₹155–₹170/kg over the next three months, stabilizing only after the new crop arrives.
With the festive season approaching, edible oil prices are rising fast. Yesterday, palm oil prices reached a five-month high in the international market, and mustard oil prices are becoming a hot topic. Mustard oil is still more expensive than other oils. Its price has risen by 5% in a month and 34% in a year.
Talking about prices, Vijay Data, MD of Vijay Solvents, said that the premium for mustard oil will continue in the coming months. Currently, mustard oil prices are down by ₹50–60 per kg compared to before. The drop in prices is because more mustard oil has arrived in the market and the government has released its stock. Oil prices have also fallen by ₹4–5 per kg due to the rise in oil cake prices. However, mustard oil is still more expensive than other oils.
Mustard Oil Demand and Prices
Vijay Data said that the demand for mustard oil has increased compared to other oils. Because of this strong demand, mustard oil remains more expensive than other oils. The country should prepare for the new mustard crop, as prices will not fall until the new crop arrives. There is also good demand for mustard DOC.
He added that prices will stay between ₹155–₹170 per kg for the next three months. There is little chance of prices going above ₹170, and the drop below ₹155 may be limited.
Government Stock and Market Impact
Government agencies currently hold around 1 million tonnes of mustard oil. This stock is expected to be released into the market by December. However, this is not likely to affect prices much, as the market is already considering this stock.
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Source : Times Bull
