Mustard down despite good buying

Mustard prices in mandis across the country continued to rule around Rs 200 below the minimum support price of Rs 1,700 per 100 kilogram on Tuesday with traders predicting a further decline in prices.

This is despite the fact that two government agencies "" National Agricultural Co-operative and Marketing Federation and Haryana State Cooperative Supply and Marketing Federation "" are procuring mustard seeds at the MSP in Rajasthan, Gujarat and Haryana.

The benchmark Kota auction rate was Rs 1,480-1,520 per 100 kg, down from Rs 1,510 to Rs 1,540 on Monday. The Jaipur mill-gate rate was Rs 1,680 to Rs 1,685 per 100 kg, down from Monday's Rs 1,690 to Rs 1,695.

Traders estimate mustard arrivals across country to be in the range of 600,000-700,000 bags (each bag weighs 85 kg).