Informist, Monday, Sep 04, 2023
By Arunima Bharadwaj
NEW DELHI – Prices of mustard rose today in Jaipur due to increased demand even after arrivals increased, while those of soybean were unavailable in Indore, market players said.
MUSTARD seed was sold at 5,900-5,925 rupees per 100 kg, up 25 rupees from Saturday in Jaipur, Rajasthan, despite an increase in arrivals, said Rupesh Parekh, a local trader.
Arrivals of the oilseed were pegged at 225,000 bags (1 bag = 84 kg) in Jaipur, and arrivals across the country increased by 40,000 bags to 440,000 bags.
In July, the country exported 273,379 tn of mustard meal, significantly higher than 144,308 tn in the year-ago period, data from the Solvent Extractors’ Association of India showed.
SOYBEAN prices in the key wholesale markets of Indore, Madhya Pradesh, were unavailable as markets were shut on account of a strike organised by traders, Mukesh Mangal, a local trader said.
“Market will remain closed till Thursday due to the strike,” Mangal said.
So far this kharif season, farmers have sown soybean across 12.5 mln ha, up from 12.4 mln ha last year, according to data from the agriculture ministry. Soybean, a kharif oilseed, is sown in Jun-Jul and harvested in Sep-Oct.
The US Department of Agriculture has projected global oilseed output for 2023-24 (May-Apr) at 663.7 mln tn, down from 667.3 mln tn forecast in July. End
Edited by Deepshikha Bhardwaj
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