Informist, Thursday, Jan 11, 2024
By Anjali Lavania
MUMBAI – Prices of mustard seeds fell today in the benchmark market of Jaipur, Rajasthan, while those of soybean rose in Indore, Madhya Pradesh, traders said.
Farmers are waiting for the government to buy stocks from them, but it is not happening soon. This may happen only after elections, Mahesh Sameriya, a Jaipur-based trader said. Export demand for mustard seeds has also fallen, he said.
He said that no major recovery in prices is seen in the mustard seeds market. Currently, prices are moving only 25–50 rupees per 100 kg in the spot markets, but may rise 150–200 rupees after June, he said.
In Jaipur, MUSTARD prices were in the range of 5,675-5,700 rupees per 100 kg, down 25 rupees from Wednesday. Arrivals across Rajasthan rose by 10,000 bags and were pegged at 150,000 bags (1 bag = 50 kg), Sameriya said.
Mustard arrivals across the country rose by 35,000 from the previous day and were at 330,000 bags, according to Marudhar Trading Agency.
In Indore, SOYBEAN prices were in the range of 4,700-4,900 rupees per 100 kg, up 25 rupees from Wednesday, Narendra Porwal, a Madhya Pradesh-based trader and farmer, said.
Arrivals were at 5,800 bags (1 bag = 50 kgs) in Indore and the quality was good, Sandeep Sarda, owner of Shyam Traders in Indore, said.
“Soybean seed demand is improving a bit, but more imports of sunflower and palm oil is creating pressure on the domestic prices of soybean,” Sarda said.
Soybean of the best quality was priced at 4,900 rupees per 100 kg, Porwal said. The price of average quality soybean across the markets of Madhya Pradesh was in the range of 4,300-4,700 rupees per 100 kg. The price of dagi-mitti variety was 3,800-4,200 rupees per 100 kg, he said.
At 1717 IST:
–January contract of CRUDE SUNFLOWER oil closed 0.7% higher at 844.6 rupees per 10 kg on the National Commodity and Derivatives Exchange
–February contract of CRUDE SUNFLOWER oil closed 1.0% higher at 851.2 rupees per 10 kg on the NCDEX
The following table details the prices in major markets, along with the change:
End
Edited by Maheswaran Parameswaran
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