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India Edible Oil: Spot mustard down on weak demand, soybean up

Informist, Friday, Jul 15, 2022


By Puja Das


NEW DELHI – Prices of mustard fell in the benchmark market of Jaipur due to weak demand from domestic oil millers and crushers, while prices of soybean rose in Indore today because of higher demand from oil processing plants, traders said.


* Prices of MUSTARD seed were at 6,900-6,925 rupees per 100 kg in Jaipur today, down 25-50 rupees from Thursday. Arrivals were pegged steady at 190,000 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, a trader with Manishankar Oils said.


SOYBEAN prices were at 6,000-6,200 rupees per 100 kg today, up 200 rupees from the previous trade, while arrivals were unchanged at 2,000 bags, Indore-based trader N.K. Aggarwal said.


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


* Soybean prices are likely to trade within today’s range next week, Aggarwal said.  End


Edited by Avishek Dutta


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Source: Cogencis

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