India’s Rapeseed meal crush for the year 2023-24 is estimated at 9.11 MMT

As per Agriwatch, India’s Rapeseed meal crush for the year 2023-24 is estimated at 9.11 MMT which is down by 10% as compared to previous year at 10.07 MMT. The decline in crushing can be attributed to weak demand from millers due to disparity tracking weak mustard oil prices. From aforementioned crushing figures, rapeseed meal production is likely to be at  5.6 MMT as compared to 6.04 MMT previous year. Upon slow crushing of mustard this year, rapeseed meal export is likely to decline for the year 2023-24. Year-to-date RM seed prices are down by 21%, and in last one year down by 27% and currently trading at INR 5300/Qtl. In near term mustard seed prices is likely to trade in the range of INR 5,000-5,800/Qtl.