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India Edible Oil: Spot soybean down tracking BMD CPO, mustard steady

Informist, Monday, Jul 25, 2022

 

By Puja Das

 

NEW DELHI – Prices of soybean fell in Indore tracking global crude palm oil prices, while mustard prices in the benchmark market of Jaipur remained flat today.

 

* Prices of SOYBEAN were at 5,700-6,900 rupees per 100 kg, down 50 rupees from Saturday. Arrivals were pegged steady at 1,500 bags (1 bag = 90 kg), an Indore-based trader NK Aggarwal said. 

 

* Prices are seen falling in the near future if global crude palm oil prices decline further, he said.

 

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

 

MUSTARD prices remained steady at 6,800-6,025 rupees per 100 kg in Jaipur due to weak demand from domestic oil millers and crushers despite arrivals rising to 200,000 bags (1 bag = 84 kg) from 170,000 bags.

 

* 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.

 

End

 

Edited by Sushmita Mukherjee

 

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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