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India Edible Oil: Spot mustard up on improved demand; soybean steady

Informist, Tuesday, Jul 12, 2022

 

By Puja Das

 

NEW DELHI – Prices of mustard rose in the benchmark market of Jaipur due to improved demand from domestic and international oil millers, while prices of soybean were flat in Indore today, traders said. 

 

* The price of MUSTARD seed in Jaipur today was 6,925 rupees per 100 kg, up 25 rupees from Monday. Arrivals were pegged lower at 200,000 bags (1 bag = 84 kg) compared with 240,000 bags on Monday. 

 

* Even with India estimating a 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, a trader with Manishankar Oils said.

 

SOYBEAN prices in Indore, the benchmark wholesale market for the commodity, were steady at 5,800-6,000 rupees per 100 kg despite a fall in arrivals to 1,000 bags from 1,500 bags on the previous day, Indore-based trader N.K. Aggarwal said.

 

* 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 today’s range for the rest of the week, Aggarwal said. End

 

Edited by Vidhi Verma

 

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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