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

Informist, Thursday, Jul 21, 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 remained flat in Indore today.

 

* Prices of MUSTARD were at 6,825-6,850 rupees per 100 kg, down 50 rupees from Wednesday. Arrivals were pegged steady at 220,000 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 remained steady at 5,700-6,000 rupees per 100 kg today, and arrivals were unchanged at 1,500 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 Maheswaran Parameswaran

 

 

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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