Informist, Wednesday, May 10, 2023
By Arunima Bharadwaj
NEW DELHI – Prices of mustard and soybean fell today in Jaipur and Indore, respectively, tracking global markets, market participants said.
MUSTARD prices fell today in Jaipur, Rajasthan, and the seed was sold at 5,325-5,350 rupees per 100 kg, down 100 rupees from Tuesday, said Rupesh Parekh, a local trader.
Arrivals of mustard in Jaipur were pegged steady at 425,000 bags (1 bag = 50 kg) and arrivals across the country also remained steady at 850,000 bags.
In its second advance estimate, the government has pegged the country’s mustard production in the 2022-23 (Jul-Jun) crop year at 12.8 mln tn against 12.0 mln tn the previous year.
In Indore, Madhya Pradesh, SOYBEAN was sold at 5,200-5,450 rupees per 100 kg, down 100 rupees from Tuesday, said Mukesh Mangal, a local trader. Arrivals were pegged at 1,500 bags (1 bag = 50 kg), down 400 bags from the previous day of trade.
The government has pegged total oilseed output in 2022-23 at 40.0 mln tn against 38.0 mln tn the previous year. It has revised the view on soybean output in 2022-23 to 14.0 mln tn from 13.0 mln tn earlier.
The US Department of Agriculture has scaled down its estimate for global oilseed production in 2022-23 (May-Apr) to 625.4 mln tn from 629.9 mln tn pegged last month.
The agency has projected global soybean output in 2022-23 at 369.6 mln tn, 6 mln tn lower than its estimate in March. End
Edited by Rajeev Pai
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