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India Edible Oil: Jaipur mustard dn as arrivals rise; soybean steady

Informist, Monday, Mar 21, 2022

 

By Uddipta Banerjee

 

NEW DELHI – Prices of mustard in Jaipur fell today as arrivals in the market rose significantly after the market reopened post Holi, while those of soybean remained largely unchanged in Madhya Pradesh’s Indore market, traders said.

 

* In December, the Securities and Exchange Board of India had banned trading in soybean and its derivatives, mustard and crude palm oil for a year. The volumes in existing contracts of these commodities on the National Commodity and Derivatives Exchange and the Multi Commodity Exchange are negligible.

 

* In Jaipur, Rajasthan, MUSTARD was sold for 7,000 rupees per 100 kg, down 100 rupees from Saturday, a trader with Manishankar Oils said.

 

* Arrivals were pegged at 1.2 mln bags (1 bag = 84 kg), against 650,000 bags the previous day. Moreover, projections of record mustard production this season also weighed on the prices of the oilseed, the trader said. 

 

* Prices of SOYBEAN were largely unchanged in Madhya Pradesh’s Indore, the benchmark market for the oilseed, because of steady demand from domestic oil millers and crushers, traders said.

 

* The oilseed was sold at 7,500-7,700 rupees per 100 kg, unchanged from Thursday. Arrivals were pegged at 800 bags (1 bag = 100 kg), as against 1,000 bags on the previous day, said local trader N.K. Aggarwal.

 

* The market was shut since Friday on account of Holi, and resumed trade today, he added.   End

 

Edited by Maheswaran Parameswaran

 

Cogencis news is now Informist. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

 

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Source: Cogencis

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