Latest News Oil Seeds

Oil Industry forecasts record mustard crop of 89.5 lt in 2020-21, up by 19%

Oil Industry forecasts record mustard crop of 89.5 lt in 2020-21, up by 19%

The Central Organization for Oil Industry and Trade (COOIT) forecasts a record mustard crop of 89.5 lakh tonnes (lt) for the year 2020-21 rabi crop season, up 19% from the last year’s 75 lakh tonnes.

As per the COOIT, Mustard production is expected to increase in northern states such as Rajasthan, Uttar Pradesh, Gujarat, West Bengal, and Bihar.

According to Babulal Data, Chairman of COOIT, farmers have been positively inclined toward mustard production, leading to higher sowing this rabi season.

Also Read: Good weather, fewer pest attacks leads India to set record in wheat output

‘The climatic conditions have also been mostly favourable, so per hectare production is expected to be higher. As a result, we expect record mustard seed production this year, which will benefit all stakeholders, including farmers, consumers, and the edible oil industry.

Rajasthan is expected to produce 35 lt (32 lt), while Gujarat is expected to produce 4 lt (3 lt). Taramira production in Rajasthan is estimated to be 2 lt.

COOIT estimates mustard output in Uttar Pradesh at 15 lt (13 lt), and in Bihar at 10 lt (7 lt). In Madhya Pradesh and Chhattisgarh, production is forecast to be 10 lt in 2020-21, up from 6.5 lt the previous year.

Likewise, West Bengal is expected to produce 5 lt (4.5 lt) of the oilseed, whereas Punjab and Haryana are expected to produce 10.5 lt (10 lt).

The price forecast is positive

According to Lakshmi Chand Agarwal, President of COOIT, mustard prices are expected to remain firm given the global market’s bullish trend. Mustard prices are far above the Centre’s minimum support price of ₹ 4,850 per quintal.

Also Read: Saudi Arabia’s SALIC, increases investment in Indian food and agri ecosystem

Prices for good quality mustard with a 48% oil content are currently ruling at ₹ 5,500-5,800 and are unlikely to fall, according to him.

Knowledge Share

Agri Academy

Agri Mock test, MCQ Agri-Economics, for UPSC/UGC NET/ASRB NET/NABARD/SRF/JRF/KSET/SO/ Competitive Exams