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India Edible Oil: Mustard, soybean prices fall on rise in arrivals

Informist, Monday, Jan 9, 2023


By Arunima Bharadwaj


NEW DELHI – Prices of mustard fell today in Jaipur, Rajasthan, as estimates show the production may rise in the ongoing crop year 2022-23 (Jul-Jun), while those of soybean fell in Indore, Madhya Pradesh due to an increase in arrivals, traders said.


MUSTARD seed was sold at 6,425-6,450 rupees per 100 kg, down 25 rupees from Friday. Arrivals were pegged at 190,000 bags (1 bag = 84 kg), up 5,000 bags from the previous trading day, said Rupesh Parekh, a local trader.


* The output of the key oilseed is set to hit a record high this year, especially in the eastern region. It is expected to boost domestic oilseeds production and reduce the country’s dependence on import of edible oil. 


* Farmers in the country have sown mustard across 9.5 ha in the current rabi season as of Thursday, up 7.8% from a year ago, data from the farm ministry showed.


* Mustard production for 2022-23 (Jul-Jun) is seen around 1.25 mln tn, up 6% from last year due to conducive weather conditions, analysts said. 


* In Indore, SOYBEAN was sold at 5,700 rupees per 100 kg, down 100 rupees from Friday because of an increase in arrivals, said N.K. Agarwal, a local trader.


* Arrivals were pegged at 4,000 bags (1 bag = 100 kg), up 1,000 bags from Friday.


* Prices are expected to remain steady in the coming week, Agarwal said.




Edited by Vidhi Verma


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Source: Cogencis

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