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

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