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India Edible Oil: Spot mustard falls on poor demand; soybean steady

Informist, Wednesday, Jul 13, 2022


By Puja Das


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


* Prices of MUSTARD seed in Jaipur today was 6,900-6,925 rupees per 100 kg, down 25 rupees from Tuesday. Arrivals were pegged steady at 200,000 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 the prices to rise further, a trader with Manishankar Oils said.


SOYBEAN prices remained steady at 5,800-6,000 rupees per 100 kg today despite a rise in arrivals to 2,000 bags from 1,000 bags on Tuesday, an Indore-based trader NK Aggarwal said.


* Farmers are likely to bring more produce to the market when prices move upwards. However, it depends on weather conditions, he said.


* Soybean prices are likely to trade within today’s range for the rest of the week, Aggarwal said. End



Edited by Sushmita Mukherjee



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Source: Cogencis

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