Informist, Tuesday, Jan 9, 2024
By Anjali Lavania
MUMBAI – Prices of mustard seed rose today in the benchmark market of Jaipur in Rajasthan, while those of soybean fell in Indore, Madhya Pradesh, traders said.
Mustard prices are slightly higher and farmers are waiting for the National Agricultural Cooperative Marketing Federation Of India to buy stocks from the old season as they aren’t ready to sell them at a low price, said Mahesh Sameriya, a Jaipur-based trader, said.
“The limited buying by various oil mills is now creating pressure on farmers,” Rajendra Trivedi of Govinda Traders said.
In Jaipur, MUSTARD prices were in the range of 5,675-5,700 rupees per 100 kg, up 50 rupees from Monday. Arrivals in Rajasthan markets remained unchanged at 135,000 bags (1 bag = 50 kg), Sameriya said.
Mustard arrivals across the country too remained unchanged from the previous day of trade and were at 275,000 bags, according to Marudhar Trading Agency.
Oil mills usually buy fresh stocks as the oil content is more compared with the old season stocks. Therefore, the demand for mustard could rise after the new harvest, he said.
In Indore, SOYBEAN prices were in the range of 4,650-4,900 rupees per 100 kg, down 50 rupees from Monday, Narendra Porwal, a Madhya Pradesh-based trader and farmer, said.
Arrivals of soybean in Indore were at 4,900 bags (1 bag = 50 kgs), around 1,900 bags higher than Monday. If the moisture content is high, the soybean is categorised as ‘dagi-mitti’, he said.
Soybean of the best quality was priced at 4,791 rupees per 100 kg, Porwal said. The price of average quality soybean in Madhya Pradesh was 4,550-4,750 rupees per 100 kg. For dagi-mitti soybean, the price was 3,500-4,300 rupees per 100 kg, he said.
At 1720 IST:
–January contract of CRUDE SUNFLOWER oil closed 1.3% higher at 847.7 rupees per 10 kg on the National Commodity and Derivatives Exchange
–February contract of CRUDE SUNFLOWER oil closed 0.9% higher at 841.6 rupees per 10 kg on the NCDEX
The following table details the prices in major markets, along with the change:
End
Edited by Vandana Hingorani
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