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India Edible Oil: Mustard prices in Jaipur flat on lack of triggers

Informist, Friday, Dec 23, 2022

 

By Ashtha Tiwari 

 

NEW DELHI – Prices of mustard were flat in Jaipur today due to lack of fresh triggers, while prices of soybean in Indore were unavailable on account of Amavasya, market participants said. 

 

MUSTARD seed was sold at 6,725-6,750 rupees per 100 kg, steady from Thursday. Arrivals were pegged at 225,000 bags (1 bag = 84 kg), down 25,000 bags from the previous session. 

 

* The arrivals were down today on account of Amavasya, said Rupesh Parekh, a Jaipur-based dealer.

 

* Prices of mustard in the market have been the same for the past 8-10 days due to sluggish demand, while supply is adequate for the commodity, Parekh said.

 

* In the ongoing 2022-23 (Oct-Mar) rabi season, mustard production is expected to be 10% higher than a year ago, Parekh added. 

 

* According to farm ministry data, farmers in the country have sown mustard across 9.26 mln ha as of Thursday, up 9.5% from a year ago. As per the Solvent Extractors’ Association of India, mustard acreage is likely to touch 9.5 mln ha by the end of the current season.

 

* Prices of SOYBEAN in Indore were unavailable, as the market was shut on account of Amavasya. 

 

* On Thursday, soybean was sold at 4,850-5,600 rupees per 100 kg. Arrivals were also pegged steady at 3,000 bags (1 bag = 100 kg). 

 

* Soybean prices are likely to fall due to higher carryover stocks, moderate demand, and adequate supply of the oilseed in the country, analysts 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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