For the Quarter Ending September 2025
APAC
鈥� In India, the Mustard Oil Price Index fell by 0.09% quarter-over-quarter, reflecting abundant post-rabi supply.
鈥� The average Mustard Oil price for the quarter was approximately USD 1600.76/MT, per trade respondents.
鈥� Domestic crushing uptick pressured Mustard Oil Spot Price and widened spreads, despite cheaper imported oil.
鈥� Market models show Mustard Oil Price Forecast bullish ahead of festivals, supporting regional Price Index.
鈥� Rising transport costs and monsoon handling increased Mustard Oil Production Cost Trend, limiting margin compression.
鈥� Short-term Mustard Oil Demand Outlook remains seasonally firm due to festival buying and steady processing.
鈥� Export inquiries and mill rationing supported local Price Index strength while stock distribution remained uneven.
鈥� Inventories tightened near Agra, prompting mill premiums and short covering that influenced Price Index regionally.
Why did the price of Mustard Oil change in September 2025 in APAC?
鈥� Post-rabi abundant seed arrivals increased crushing output, creating oversupply and downward pressure on mill prices.
鈥� Reduced speculative activity and palm and soybean imports constrained domestic pricing power and buyer switching.
鈥� Monsoon logistics delays and higher freight raised handling costs, supporting regional price firmness despite supply.
Europe
鈥� Across key EU markets, the Mustard Oil Price Index eased quarter-over-quarter, with stable but uninspired consumption trends.
鈥� Cheaper sunflower and rapeseed oil imports restrained Mustard Oil substitution demand.
鈥� Retail offtake was modest, though niche segments in specialty food and condiment manufacturing provided baseline support.
鈥� Production cost trend remained stable due to energy price normalization and efficient crushing operations.
鈥� Demand outlook was steady to mildly weak, as processors prioritized clearing existing stock.
鈥� Inventories across Western Europe remained comfortable, though localized tightening in Eastern Europe prompted minor mill premiums.
鈥� Freight and currency factors were favorable; stable euro exchange rates and steady container availability reduced landed cost volatility.
鈥� Supply chain operations continued smoothly, with ports maintaining consistent throughput and predictable delivery schedules.
North America
鈥� In the U.S. and Canada, Mustard Oil Price Index slipped聽 quarter-over-quarter, reflecting subdued downstream demand and high edible oil substitution.
鈥� Refiner destocking and competitive pricing from soybean and canola oil suppliers softened spot sentiment.
鈥� Food manufacturing and retail bottlers maintained conservative procurement due to adequate inventories and slower turnover.
鈥� Stable freight and favorable exchange rates limited landed cost escalation, keeping the market rangebound.
鈥� Production cost trend remained steady, supported by consistent processing margins and energy cost moderation.
鈥� Demand outlook was steady to slightly weak as industrial users relied on contracted volumes rather than spot purchases.
鈥� Inventories in midwestern hubs remained elevated, while the Pacific Northwest saw moderate tightening near processing centers.
鈥� Logistics operated smoothly, with no major port delays or inland transportation issues reported.
For the Quarter Ending June 2025
North America
鈥� The mustard oil market in North America showed a stable overall trend in Q2 2025. Spot prices modestly fluctuated, ending June near steady levels reflecting measured market adjustments amid global influences; mustard oil spot price stability was supported by closely monitored supply channels.
鈥� The mustard oil price forecast for next quarter anticipates moderate growth driven by increasing consumer interest in health-conscious and organic oils, complemented by steady production cost trend that remains contained despite moderate input cost pressures.
鈥� Mustard Oil Production cost trend within the quarter indicated slight increases due to logistical expenses and input raw material price volatility; however, these costs were largely absorbed by processing efficiencies.
鈥� Mustard Oil demand outlook within the quarter remained steady with increasing traction in ethnic and specialty food markets, sustaining stable consumption amid broader edible oil market fluctuations.
鈥� June 2025 spot price behavior revealed minor price softening attributable to improved inventory levels and more competitive imports but without significant disruption to the pricing structure.
鈥� Supply constraints were minimal, with good availability from regional distributors and importers supporting consistent market fulfillment.
鈥� Increased emphasis on domestic manufacturing and quality certifications positively influenced consumer confidence and purchase behavior.
鈥� Mustard Oil Pricing strategies incorporated promotional activities to maintain shelf presence amidst competitive edible oil alternatives, balancing supply-demand dynamics.
鈥� Traders showed cautious buying patterns ahead of seasonal demand shifts expected in Q3, influencing spot price activity.
鈥� The opportunity for growth remains linked to heightened awareness of mustard oil鈥檚 nutritional benefits, which suggests a positive long-term price forecast for next quarter despite current stable price trends.
APAC
鈥� In APAC during Q2 2025, mustard oil prices experienced an overall upward trend paralleling the Indian market, with an average Quarter-over-Quarter price increase of approximately 1.57%, ending June 2025 with reuced spot prices聽 at USD 1615/MT reflecting supply tightness and cost inflation.
鈥� Mustard Oil Production cost trend within the quarter was characterized by increased procurement prices for mustard seeds, labor, and fuel, translating to higher oil production costs that reinforced price escalation.
鈥� Mustard Oil Demand outlook within the quarter remained bullish, driven by cultural factors, health-conscious consumption, and seasonal festivals amplifying both retail and institutional uptake.
鈥� In June 2025, a supply-weighted market scenario emerged due to abundant rabi harvest arrivals, which caused a partial correction in prices though still higher than start-of-quarter levels.
鈥� Strategic stockpiling by traders through April and May created artificially constrained supply conditions, pushing prices upward before June鈥檚 market adjustment.
鈥� The Mustard Oil price forecast for next quarter remains cautiously optimistic with expectations of moderate price corrections balanced by steady demand and possible input cost volatility.
鈥� Limited imports of alternative oils reinforced reliance on mustard oil, supporting sustained demand and pricing power.
鈥� Supply-side bottlenecks due to delayed harvests earlier in the quarter significantly influenced market dynamics and pricing strategy.
鈥� Emerging consumer preference shifts towards traditional and natural cooking oils helped maintain robust demand despite seasonal fluctuations.
鈥� Government policy in reducing edible oil import duties indirectly impacted mustard oil positioning, adding complexity to pricing and forward market projections.
Europe
鈥� Europe reflected a stable to mildly upward mustard oil price trajectory, reflecting indirect influence from India鈥檚 upward market momentum; the price change for Europe hovered slightly positive, with June鈥檚 mustard oil spot price showing steady levels amid cautious supply-demand balancing.
鈥� The production cost trend within the quarter showed modest increases driven by rising energy and transportation expenses influencing European processing and distribution costs.
鈥� Mustard Oil Demand outlook within the quarter reflected growing niche market interest in mustard oil for specialty cuisines and health benefits, supporting steady consumption.
鈥� June 2025 saw steady price behavior with no significant volatility, attributed to balanced inventories and stable procurement activities.
鈥� The price forecast for next quarter anticipates moderate growth driven by sustained health-driven consumer demand and improved product availability.
鈥� Import reliance on India and other key producers kept supply chains sensitive to external market changes, which influenced procurement strategies.
鈥� Strategic collaborations between European importers and local distributors helped optimize supply responsiveness.
鈥� Consumers鈥� growing trend towards organic and cold-pressed mustard oils supported pricing resilience.
鈥� Regulatory frameworks causing logistical challenges were managed effectively, limiting production cost escalations.
鈥� Forward-looking market behavior suggests potential for incremental price improvements tied to specialty product promotion and expanding consumer education efforts.
For the Quarter Ending March 2025
North America
In North America, mustard oil prices in Q1 2025 experienced moderate fluctuations, with the market initially seeing a slight increase in January. This rise was mainly attributed to steady demand from both industrial and retail sectors, which were bolstered by strong consumer preferences for mustard oil. Furthermore, supply constraints from key producing regions coupled with global market uncertainties contributed to upward pressure on prices. Despite these factors, the North American market remained relatively stable compared to other regions, with prices showing resilience due to ongoing local demand.
However, by February, price trends started to reverse as the market adjusted to the supply influx. A significant amount of mustard oil from Canadian and U.S. suppliers entered the market, easing previous supply tightness. This shift, along with weakened consumer demand after the January rush, led to a reduction in prices. The seasonal dip in consumption, combined with a reduction in speculative buying, further contributed to the downward trend.
By March, the market stabilized with prices remaining relatively flat, as the balance between supply and demand appeared to be restored. Although some challenges remained, including potential export fluctuations, the outlook for the North American mustard oil market was cautiously optimistic heading into the next quarter.
Asia Pacific
In Q1 2025, India鈥檚 mustard oil market saw significant fluctuations in prices. January began with an upward trend, driven by a weak rupee, rising consumer demand, and limited supply. The depreciation of the Indian currency made imports more expensive, benefiting local traders with higher profit margins. Supply constraints, coupled with steady demand from both retail and industrial sectors, kept prices resilient despite fluctuating international edible oil prices.
However, in February 2025, the market experienced a sharp decline in prices. This was primarily due to an influx of mustard arrivals from key producing states like Madhya Pradesh and Rajasthan, which increased supply and pressured prices downward. Additionally, consumers shifted to alternative edible oils, and speculative buying declined as buyers anticipated further price drops. Seasonal factors, with rising temperatures, also reduced mustard oil consumption.
By March, fresh crop arrivals from Haryana were expected, further adding to the supply glut. While the government's increase in Minimum Support Price (MSP) for mustard oil was aimed at boosting production, a decrease in sowing by 8% raised concerns for the long term. Overall, Q1 2025 ended with a correction in prices, which were expected to remain under pressure due to supply and demand dynamics, though further declines were seen as limited.
Europe
In Europe, the mustard oil market experienced a mixed price dynamic during Q1 2025. In January, prices increased, supported by consistent demand from both the industrial sector and retail consumption. The price hike was driven by rising raw material costs and the relative stability of local markets. However, European producers continued to face supply challenges, notably the growing pressure of import costs.
In February, a downward trend took hold of the European mustard oil market. The price decline was due to an influx of products from key producing regions, especially higher arrivals of mustard seeds from France and Spain. At the same time, consumer demand decreased due to rising temperatures and seasonality, contributing to a reduction in sales volumes.
By March, although the price decline continued, some stability returned to the market. Production expectations were moderate, with a more balanced supply, and prices began to stabilize, though they remained under constant pressure. The outlook for the European market in Q2 2025 suggested a cautious recovery, provided that production and consumption dynamics remained balanced.
For the Quarter Ending December 2024
North America
During Q4 2024, the mustard oil market in the USA experienced a period of steady price stability, driven by domestic consumption and market conditions. The demand for mustard oil firmed in October due to the seasonal increase in usage, particularly ahead of the festive season.
Strong consumption in regions with higher culinary traditions bolstered demand, with oil mills strategically increasing inventory in anticipation of winter needs. The favorable crop outlook, supported by good harvest conditions, provided confidence in supply. At the same time, elevated global edible oil prices and inflationary pressures helped sustain price levels, despite some external competition from other vegetable oils.聽
Traders remained cautious of potential risks such as weather disruptions affecting crop yields. Moving into November and December, prices showed resilience, supported by domestic production incentives and government policies aimed at stabilizing the market. However, the market remained sensitive to fluctuations in global oil prices and transportation costs, which influenced the overall pricing structure during the closing months of 2024.
Asia Pacific
Throughout Q4 2024, the Indian mustard oil market was influenced by a variety of factors that contributed to price fluctuations. In October, prices rose due to seasonal demand spikes driven by the festive season and oil mills鈥� strategic stockpiling in anticipation of winter. Increased consumption, especially in northern regions, was supported by favorable weather conditions for the upcoming Rabi crop and strong Kharif harvest yields. Additionally, shifts in government import policies redirected demand toward domestic oil production, strengthening mustard oil prices. Global inflationary pressures and rising edible oil prices further bolstered price stability. In November, despite steady demand, mustard seed prices saw a decline due to higher production and greater seed arrivals. The market faced external pressures from competing oilseeds and varying global demand, limiting price increases. Yet again in December, the oil prices showed a slight upward trend, particularly in northern states with higher winter demand. Price dynamics were shaped by harvest outcomes, transportation costs, and the influence of competing oils, alongside government policies supporting balanced pricing.
Europe
In Germany, the mustard oil market during Q4 2024 reflected a mix of seasonal demand increases and external market pressures. Prices in October saw a rise, driven by heightened consumption in the lead-up to the winter season. Regional demand in the northern parts, coupled with strong consumer trends, contributed to the price growth. Oil mills were active in stockpiling ahead of colder months, supported by favorable harvest conditions. The domestic mustard oil market benefitted from government initiatives aimed at reducing reliance on imports, with policies encouraging local production. This policy shift, along with rising global edible oil prices, strengthened mustard oil price resilience despite competition from other vegetable oils. In November, price growth slowed as international market factors, such as competing oilseed prices and global demand fluctuations, tempered any further increases. By December, prices exhibited slight upward movement, influenced by both modest rises in regional quotations and transportation cost surges. Overall, the market showed robustness, with favorable domestic policies and stable demand providing a foundation for continued market equilibrium despite external challenges.
