Informist, Tuesday, Aug 8, 2023
By Arunima Bharadwaj
NEW DELHI – Prices of mustard fell today in Jaipur, Rajasthan, while those of soybean were steady in Indore, Madhya Pradesh, traders said.
In Jaipur, MUSTARD was sold at 6,000-6,025 rupees per 100 kg, down 25 rupees from Monday, said Rupesh Parekh, a local trader.
Arrivals of the oilseed were pegged steady at 225,000 bags (1 bag = 84 kg) in Jaipur. Arrivals across the country were estimated at 450,000 bags, unchanged from Monday.
In its third advance estimate, the government has pegged the country’s mustard production for 2022-23 (Jul-Jun) at 12.5 mln tn, against 12.0 mln tn the previous crop year.
In the key wholesale markets of Indore, SOYBEAN was sold at 4,850-5,050 rupees per 100 kg, steady from the previous trading day, said Mukesh Mangal, a local trader. Arrivals of the oilseed were pegged at 1,500 bags.
Refined soybean was sold at 998-1,008 rupees per 10 kg in the key wholesale markets of Indore, down by 16 rupees from Monday, according to a poll by Cogencis.
The US Department of Agriculture has projected global oilseed output in 2023-24 (May-Apr) at 667.3 mln tn, lower than 671.4 mln tn estimated in June.
The estimate for global soyoil production for 2023-24 has been further revised downwards in July to 62.1 mln tn from 62.4 mln tn projected in June.
Acreage under oilseeds was up 3% at 18.0 mln ha, data from the Department of Agriculture and Farmers’ Welfare showed. Soybean acreage in the country was 4% higher on year at 12.24 mln ha as of Friday, according to the data. End
Edited by Maheswaran Parameswaran
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Source: Cogencis
