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

Informist, Monday, Jun 12, 2023

By Arunima Bharadwaj

NEW DELHI – Prices of mustard rose in Jaipur, Rajasthan as demand improved, while those of soybean in Indore in Madhya Pradesh remained steady, traders said.

In Jaipur, MUSTARD was sold at 5,175-5,200 rupees per 100 kg, up 75 rupees from Friday, said Rupesh Parekh, a local trader. 

Arrivals in Jaipur were estimated at 450,000 bags, up 50,000 bags from Friday while across the country it remained at 750,000 bags.

In its third advance estimate, the government has pegged the country’s mustard production in 2022-23 (Jul-Jun) at 12.5 mln tn compared with 12.0 mln tn in the previous crop year. 

SOYBEAN in Indore was quoted at 5,100 rupees per 100 kg, steady from Friday, said Mukesh Mangal, a local trader. Arrivals of the oilseed were pegged at 1,500 bags (1 bag = 50 kg), up 300 bags from Friday.

The government has increased the minimum support price of soybean by 300 rupees to 4,600 rupees per 100 kg for the 2023-24 kharif marketing season.

The government has pegged total oilseed output in crop year 2022-23 (Jul-Jun) at 41.0 mln tn as against 38.0 mln tn the previous year.  End

Edited by Maheswaran Parameswaran

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