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India Edible Oil: Spot mustard down on tepid demand, soybean steady

Informist, Thursday, Jun 30, 2022

 

By Uddipta Banerjee

 

NEW DELHI – Prices of mustard fell today in the benchmark market of Jaipur, Rajasthan, due to tepid demand from domestic millers and stockists, while those of soybean in Indore, Madhya Pradesh, were steady today, said traders. 

 

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

 

* Arrivals were pegged steady at 295,000 bags (1 bag = 84 kg). 

 

By and large, even with India estimating record mustard seed production in 2021-22 (Jul-Jun), 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.

 

* Prices are likely to move in a range of 6,950-7,200 rupees per 100 kg in the next one week, the trader said.

 

SOYBEAN prices were steady at 6,200-6,400 rupees per 100 kg in Madhya Pradesh’s Indore, the benchmark wholesale market for the commodity, said Indore-based trader N.K. Aggarwal.

 

* Arrivals were pegged steady at 1,000 bags, Aggarwal said.

 

* Farmers are likely to bring less produce to the market as the end of the season approaches, he said.  End

 

 

Edited by Maheswaran Parameswaran

 

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. 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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