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India Edible Oil: Mustard up on improved demand; soybean flat

Informist, Thursday, Dec 15, 2022


By Ashtha Tiwari 


NEW DELHI – Prices of mustard seed were up today in Jaipur, Rajasthan, due to higher demand from crushers and millers, market participants said. Prices of soybean were flat in Indore, Madhya Pradesh, due to steady demand.


MUSTARD seed prices were at 6,725-6,750 rupees per 100 kg, up 50 rupees in Jaipur. Arrivals were at 250,000 bags (1 bag = 84 kg), unchanged from Wednesday.


* The prices were slightly up due to a rise in demand for mustard oil, which typically increases during the winters, for cooking and other household purposes, traders said.   


* New mustard crop will likely hit the market in February, leading to a surge in supply, said Rupesh Parekh, a Jaipur-based trader. “This is the lean season for mustard, and prices are expected to rise in the local markets next week due to decline in arrivals of the oilseed.” 


SOYBEAN prices were stable in Indore due to parity between demand and supply from crushers and millers, said N.K. Agarwal, a local trader.


* Soybean was sold at 4,800-5,500 rupees per 100 kg, unchanged from Wednesday. Arrivals are pegged at 5,000 bags (1 bag = 100 kg), down 2,000 bags from the previous day.


* India’s soymeal production rose to 964,000 tn in November from 599,000 tn a year ago. The output for Oct-Nov was 1.6 mln tn against 1.1 mln tn in the year-ago period, according to the Soybean Processors Association of India. End


Edited by Manisha Baxla


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Source: Cogencis

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