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India Edible Oil: Jaipur mustard, Indore soybean dn on tepid demand

Informist, Monday, May 2, 2022

 

By Uddipta Banerjee

 

NEW DELHI – Prices of mustard in the benchmark market of Rajasthan’s Jaipur, and those of soybean in Indore were lower today, traders said.

 

* In Jaipur, MUSTARD was sold at 7,475 rupees per 100 kg, down 75 rupees from Saturday. Arrivals were pegged at 550,000 bags (1 bag = 84 kg) compared with 525,000 bags the previous day.

 

* Robust demand for mustard from international stockists, driven primarily by supply concerns regarding sunflower oil from the Russia-Ukraine corridor, is likely to lend support to prices of the oilseed in the near term, said a trader with Manishankar Oils. 

 

* Even with India pegging record mustard seed production in 2021-22, farmers are refraining from bringing their produce to the market in large quantities, as they are waiting for the prices to rise further, the trader added.

 

SOYBEAN arrivals in Indore, the benchmark market in Madhya Pradesh, were pegged at 500 bags (1 bag = 100 kg), unchanged from Saturday, said local trader N.K. Aggarwal. The oilseed was sold at 7,000-7,200 rupees per 100 kg, down 500 rupees from the previous day.

 

* Farmers are bringing lesser produce to the market due to low availability of stock, as the end of the season approaches for soybean, he said. End

 

Edited by Namrata Rao

 

 

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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