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Wednesday, September 28, 2022

India Edible Oil: Mustard prices up on lower arrivals; soybean steady

By Uddipta Banerjee


NEW DELHI – Prices of mustard rose in the benchmark market of Jaipur today due to a fall in arrivals, while those of soybean remained unchanged in Indore today, traders said. 


* In Jaipur, Rajasthan, MUSTARD was sold for 7,050 rupees per 100 kg today, up 25 rupees from Wednesday. 


* Arrivals were pegged at 270,000 bags (1 bag = 84 kg), as against 285,000 bags on the previous day.


* Even with India estimating record mustard seed production in 2021-22, farmers are not bringing their produce to the market in large quantities as they are waiting for prices to rise further, said a trader with Manishankar Oils.


* Strong demand from overseas stockists and concern over low supply of sunflower oil from the Russia-Ukraine corridor are likely to support prices of the oilseed in the near term, market participants said.


* Prices of SOYBEAN in Indore, the benchmark market for the oilseed in Madhya Pradesh, remained unchanged at 6,500 rupees per 100 kg, said a local trader N.K. Aggarwal.


* Arrivals were pegged steady at 1,200 bags (1 bag = 100 kg). 


* Farmers are likely to bring lesser produce to the market as the end of the season approaches for the oilseed due to lower availability of the same, he said. End


Edited by Deepshikha Bhardwaj



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Source: Cogencis

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