Hopes of a fall in mustard oil prices may turn sour! Rising heat increased concern

Mustard Oil Prices: Due to record sowing in this rabi season, record production of mustard is estimated. In such a situation, a big decline has also been seen in the prices of mustard in the last one month. The price of mustard has come down by around 8 per cent to Rs 5925 per quintal. After which there is a possibility of fall in the prices of mustard oil. However, the way the summer temperature is increasing in the month of February itself, the concern has also increased.

According to estimates, the production of mustard is estimated to be 125 lakh tonnes in the current year, which is 7 percent more than last year. Mustard has been sown in a record 98 lakh hectares in the current Rabi season, which is much more than in the past several years. Mustard was sown in 91 lakh hectares in 2021-22. With the increase in production, there will be more production of oilseeds. This will help in reducing the import of edible oil.

India has to import 56 percent of its total consumption of edible oil. In 2021-22, India imported edible oil worth Rs 1.5 lakh crore. India itself produces only 44 percent of the total consumption, in which the share of mustard is 39 to 40 percent.

But due to the increasing heat, the concern for the mustard crop has increased. Record production of mustard was expected due to rain and cold. But due to rising mercury, the mustard crop is ripening quickly. The rising temperature of summer is not good for mustard crop. This can cause loss to the farmers. At the same time, the expected relief in the prices of mustard oil can turn water on it. At present, mustard oil is available for Rs 150 to 160 per kg, which has seen a price of Rs 200 in 2022. If the summer temperature decreases, then this year the common people can get relief from the expensive prices of edible oil.

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