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India Edible Oil:Spot mustard up on demand, soybean dn on high supply

Informist, Monday, Sep 19, 2022

 

By Puja Das

 

NEW DELHI – Prices of mustard rose in the benchmark market of Jaipur today due to improved demand from domestic oil millers and crushers despite higher supply, while prices of soybean fell in Latur, Maharashtra.

 

* MUSTARD was sold at 6,450-6,475 rupees per 100 kg, up 25 rupees from Saturday. Arrivals were also pegged higher at 215,000 bags (1 bag = 84 kg) compared to 180,000 bags the previous day.

 

* Prices of the commodity are seen moving 100-200 rupees per 100 kg from current levels until demand improves further ahead of the festival season in October, said Rupesh Parekh, a trader with Marudhar Trading.

 

* Prices of SOYBEAN in Latur, a key spot trading centre of Maharashtra, fell today as farmers brought more produce to the market ahead of next season’s fresh crop arrivals. However, demand remained limited, traders said.

 

* Soybean was sold 100 rupees lower at 5,200 rupees per 100 kg, while arrivals rose to 3,000-4,000 bags (1 bag = 100 kg) from 2,000-2,500 bags on Saturday.

 

* Farmers are likely to bring more produce till next season’s soybean crop is harvested, and till they exhaust their stock from the previous season, local trader Laxmi Narayan said.

 

* The new soybean crop is expected to arrive in the market by September-end or the beginning of October, Agarwal said.  End

 

Edited by Avishek Dutta

 

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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