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India Edible Oil: Spot mustard, soybean steady across markets

Informist, Thursday, Jul 7, 2022


By Uddipta Banerjee


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


* Prices of MUSTARD seed in Jaipur were unchanged today. The oilseed was sold for 6,825 rupees per 100 kg, unchanged from Wednesday. 


* Arrivals were pegged steady at 245,000 bags (1 bag = 84 kg). 


* Even with India estimating record high 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.


* SOYBEAN prices were steady at 6,000-6,400 rupees per 100 kg in Indore, the benchmark wholesale market for the commodity. 


* Arrivals were pegged at 800 bags as against 1,000-1,200 bags the previous day, said Indore-based trader N.K. Aggarwal.


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


* Soybean prices are likely to trade within a range of 6,000-6,400 rupees per 100 kg, Aggarwal said.  End


Edited by Namrata Rao



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Source: Cogencis

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