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India Edible Oil: Spot mustard up on lower supply; soybean steady

Informist, Thursday, Jul 14, 2022


By Puja Das


NEW DELHI – Prices of mustard rose in the benchmark market of Jaipur due to lower supply of the oilseed, while prices of soybean were flat in Indore today, traders said.


* Price of MUSTARD seed was 6,925-6,950 rupees per 100 kg in Jaipur today, up 25-50 rupees from Wednesday. Arrivals were pegged lower at 190,000 bags (1 bag = 84 kg) compared with 200,000 bags on the previous day. 


* 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, a trader with Manishankar Oils said.


SOYBEAN prices remained steady at 5,800-6,000 rupees per 100 kg today, and arrivals were unchanged at 2,000 bags, an Indore-based trader N.K. 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 Deepshikha Bhardwaj



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Source: Cogencis

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