Informist, Monday, Jul 17, 2023
By Afra Abubacker
MUMBAI – Prices of mustard fell today in the benchmark market of Jaipur in Rajasthan. Soybean prices were unavailable from markets in Indore, Madhya Pradesh, as they were shut for Amavasya, traders said.
In Jaipur, MUSTARD was sold at 5,625-5,650 rupees per 100 kg, down 25 rupees from Friday, said Rupesh Parekh, a local trader. Arrivals at Jaipur were pegged 5,000 bags lower at 200,000 bags (1 bag = 84 kg). Arrivals fell by 75,000 bags across the country to around 425,000 bags, Parekh said.
“Arrivals were lower today as some markets in Rajasthan, Madhya Pradesh, Uttar Pradesh, and Gujarat were closed for Amavasya,” he said. “Fewer farmers also came to sell for the same reason.”
In its third advance estimate, the government has pegged the country’s mustard production in 2022-23 (Nov-Oct) at 12.5 mln tn, against 12.0 mln tn the previous crop year.
Prices of SOYBEAN from the key wholesale market of Indore, Madhya Pradesh, were unavailable as the market was shut for Amavasya. “The market will reopen on Tuesday,” said Mukesh Mangal, a local trader.
According to data from the agriculture ministry, the area under oilseed cultivation was down 10.4% on year at 11.4 mln ha as on Jul 14.
India’s edible oil imports since November 2022 are at 10.4 mln tn against 8.5 mln tn a year ago, according to the Solvent Extractors’ Association of India.
The edible oil import basket comprises crude and refined palm oils, crude soyoil, and sunflower oil. India imports palm oil from Indonesia and Malaysia and soyoil from Argentina. Sunflower oil is imported from Ukraine and Russia.
India is the world’s largest importer of edible oils. End
Edited by Rajeev Pai
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