Informist, Wednesday, May 31, 2023
By Arunima Bharadwaj
NEW DELHI – Prices of mustard fell today in Jaipur, Rajasthan, and those of soybean were unavailable in Madhya Pradesh’s Indore, traders said.
In Jaipur, MUSTARD was sold at 5,100-5,125 rupees per 100 kg, down 100 rupees from Tuesday due to sluggish demand, said Rupesh Parekh, a local trader.
Arrivals in Jaipur were estimated steady at 400,000 bags (1 bag = 50 kg) and arrivals across the country were also pegged steady at 675,000 bags, Parekh said.
Arrivals during the last week were down to 54,350 tn compared with 64,100 tn the previous week as per data from Agmarknet.
In its third advance estimate, the government has pegged the country’s mustard production in 2022-23 (Jul-Jun) at 12.5 mln tn, against 12.0 mln tn in the previous crop year.
SOYBEAN prices were unavailable today in the benchmark markets of Indore in Madhya Pradesh. On Tuesday, soybean was sold at 5,000-5,180 rupees per 100 kg in Indore.
“Soybean prices are expected to move in the range of 5,300-5,550 rupees per 100 kg due to higher meal exports,” analysts at Kotak Securities said in their daily report.
For Oct-Apr, soymeal exports increased to 1.4 mln tn from 503,000 tn in the previous year, according to data from the Soybean Processors Association of India.
The government has pegged total oilseed output in crop year 2022-23 (Jul-Jun) at 41.0 mln tn, against 38.0 mln tn the previous year. It has scaled up the estimate for soybean output in 2022-23 to 15.0 mln tn from 13.0 mln tn.
The US Department of Agriculture has projected global soybean output to rise by 40.2 mln tn to 410.6 mln tn. End
Edited by Vidhi Verma
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