RM seed in Jaipur have hit a two-year low at INR 5,525/ Qtl. on increase in arrivals

The trading prices of RM seed in Jaipur have hit a two-year low at INR 5,525/ Qtl, representing a 19% YTD decline. Similarly, Mustard oil prices have also hit a three-year low, trading at INR 1090/10 Kg, indicating a 15% YTD decline. Despite this, the cumulative RM seed arrivals for February 2023 have reached 4.45 Lakh tonnes, which is 21% higher than the previous year's corresponding period. There has been a significant increase in rapeseed meal exports in April 2022 to January 2023, reported at 16.70 Lakh tons compared to 7.14 Lakh tons during the same period the previous year, which represents a 162% increase. Additionally, in Jan’23, exports reached 2.38 Lakh tonnes, indicating a 22% increase compared to the same period the previous year. However, the RM seed crush is currently in disparity, and if mustard oil prices and meal prices do not improve, the crushing pace may be slow this year.