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Friday, January 27, 2023

India Edible Oil: Mustard dn as production seen improving, soy flat

Informist, Thursday, Jan 5, 2023


By Arunima Bharadwaj


NEW DELHI – Prices of mustard in Jaipur, Rajasthan, fell on expectation of improved production, while those of soybean remained steady in the major markets of Indore in Madhya Pradesh, market participants said.


MUSTARD seed was sold at 6,475-6,500 rupees per 100 kg in Jaipur, down 100 rupees from Wednesday, said Rupesh Parekh, a trader with Marudhar Trading. Arrivals were pegged steady at 185,000 bags (1 bag = 84 kg).


* “We expect a higher mustard production in coming months, which is having a softening effect on prices,” said Parekh.


* Acreage of mustard across the country has risen 9% on year to 9.4 mln ha, according to data from the farm ministry. 


* A fall in the prices of edible oil in the global markets and expectation of new mustard crops hitting the mandis in February also weakened the sentiment.


* In Indore, SOYBEAN was sold at 5,800-5,850 rupees per 100 kg, steady from Wednesday as supply was sufficient to meet the regular demand, said N.K. Agarwal, a local dealer.


* Arrivals were pegged steady at 3,000 bags (1 bag = 100 kg).


* Prices were steady tracking international markets, Agarwal said.  End


Edited by Manisha Baxla


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Source: Cogencis

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