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Monday, December 5, 2022

India Edible Oil: Spot mustard, soy prices rise due to robust demand

Informist, Monday, Nov 7, 2022


By Tanya Rana


NEW DELHI – Prices of mustard in Jaipur, and soybean in Indore, rose today on strong demand from oil millers and crushers, traders said. 


* Prices of MUSTARD rose today in the benchmark market of Jaipur, Rajasthan, on firm demand from crushers and millers, said Rupesh Parekh, a trader with Marudhar Trading.


* In Jaipur, mustard seed was sold at 7,150-7,175 rupees per 100 kg, up 50 rupees from Saturday. Arrivals were pegged at 375,000 bags, up 75,000 bags (1 bag = 84 kg), from the previous day.


* Arrivals are expected to rise further as farmers are offloading their stocks due to higher price, traders said.


* Similarly, prices of SOYBEAN rose in Indore, Madhya Pradesh, due to increased domestic demand from oil millers, said N.K. Agarwal, a local trader. 


* Today, soybean was sold at 5,500-5,800 rupees per 100 kg, up 300 rupees from Saturday. Arrivals were pegged at 7,000 bags (1 bag = 100 kg), compared with 10,000 bags on the previous day.


* Prices of the oilseed are expected to rise more with increasing demand from crushers and millers for better quality arrivals, Agarwal added.  End


Edited by Aditya Sakorkar


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Source: Cogencis

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