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India Edible Oil: Spot mustard, soybean steady on subdued demand

Informist, Tuesday, Jul 26, 2022

 

By Puja Das

 

NEW DELHI – Prices of mustard in the benchmark market of Jaipur, Rajasthan, and soybean in Indore remained flat today due to weak demand.

 

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 declining to 190,000 bags (1 bag = 84 kg) from 200,000 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.

 

* Prices of SOYBEAN were at 5,700-6,900 rupees per 100 kg, unchanged from Monday. Arrivals were pegged steady at 1,500 bags (1 bag = 90 kg), an Indore-based trader N.K. 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. End

 

Edited by Vidhi Verma

 

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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© Informist Media Pvt. Ltd. 2022. All rights reserved.

 

Source: Cogencis

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