Informist, Friday, Mar 31, 2023
By Arunima Bharadwaj
NEW DELHI – Prices of mustard rose today in the key markets of Jaipur, Rajasthan, due to a fall in arrivals, while those of soybean were unavailable in Indore, Madhya Pradesh, traders said.
MUSTARD seeds were sold at 5,800-5,825 rupees per 100 kg, up 75 rupees from Thursday, said Rupesh Parekh, a Jaipur-based trader. The rise in prices was because of a decline in arrivals, traders said.
Arrivals of the oilseed were pegged at 250,000 bags (1 bag = 50 kg), down 100,000 bags from the previous trading day. Total arrivals across the country were pegged at 450,000 bags, compared with 925,000 bags on Thursday, Parekh said.
In its second advance estimate, the government has pegged the country’s mustard production in crop year 2022-23 (Jul-Jun) at 12.8 mln tn, against 12.0 mln tn last year.
In Indore, SOYBEAN prices were unavailable today as markets were shut. Markets will reopen on Tuesday, said Mukesh Mangal, a local trader.
Currently, domestic soybean prices are down about 30% on year due to higher edible oil stocks and improved oilseed production in the country, analysts at Kotak Securities said in a report.
The US Department of Agriculture has projected global soybean output in 2022-23 at 375 mln tn, 8 mln tn lower than the estimate in February. End
Edited by Tanima Banerjee
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