The decline has been triggered by high moisture levels in the crop caused by untimely rainfall as well as the supply of cheaper cooking oils such as palm, soybean, and sunflower through import, which has affected demand.
The current market price for mustard seeds in Rajasthan, the top producer of the crop, is around Rs 5,100-5,200/quintal, which is below the MSP of Rs 5,450/quintal, the report said.
This marks a significant drop from the prices of around Rs 6,500/quintal seen at the same time last year.