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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.




Edited by Maheswaran Parameswaran



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Source: Cogencis

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