Informist, Tuesday, Jun 28, 2022
By Uddipta Banerjee
NEW DELHI – Prices of mustard rose in Jaipur, Rajasthan, due to firm demand from overseas stockists and a fall in arrivals, and those of soybean in Indore, Madhya Pradesh, were mostly steady today, said traders.
* In Jaipur, MUSTARD was sold for 7,150 rupees per 100 kg today, up 50 rupees from Monday.
* Arrivals were pegged at 315,000 bags (1 bag = 84 kg) as against 325,000 bags pegged the previous day.
* Strong demand from overseas stockists and concern over low supply of sunflower oil from the Russia-Ukraine corridor supported mustard prices, said a trader from Manishankar Oils.
* Even with India estimating a record mustard seed production in 2021-22, farmers are not bringing their produce to the market in large quantity as they are waiting for prices to rise further, he added.
* SOYBEAN prices were steady in the benchmark market of Indore. The oilseed was sold for 6,300-6,500 rupees per 100 kg, said N.K. Aggarwal, a local trader.
* Arrivals were pegged at 1,000 bags, up 100 bags from Monday. Aggarwal said.
* Farmers are likely to bring less produce to the market as the end of the season approaches, he said.
* Farmers have sown soybean across 278,400 ha this kharif season as of Friday, down 77.7% from a year ago, the latest data from the farm ministry showed.
* The Soybean Processors Association of India has asked the government to gradually lift the exemption in customs duty on edible oils to curb falling soybean prices in the domestic markets, it said in a release today. End
Edited by Akul Nishant Akhoury
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