Informist, Wednesday, Dec 14, 2022
By Ashtha Tiwari
NEW DELHI – Mustard seed prices were down today in Jaipur, Rajasthan, due to heavy selling pressure from millers. On the other hand, prices of soybean were flat in Indore, Madhya Pradesh, due to steady demand from millers and crushers, market participants said.
* MUSTARD seed prices were at 6,650-6,700 rupees per 100 kg, down 25 rupees. Arrivals were at 250,000 bags (1 bag = 84 kg), unchanged from Tuesday.
* New mustard crop will likely hit the market in February, leading to a surge in supply, said Rupesh Parekh, a Jaipur-based trader.
* The oilseed is expected to trade in a range of 6,500-6,900 rupees per 100 kg this week, said Parekh.
* SOYBEAN prices were stable in Indore due to steady demand from stockists, crushers and millers, said N.K. Agarwal, a local trader.
* Soybean was sold at 4,800-5,500 rupees per 100 kg, unchanged from Tuesday. Arrivals are pegged at 7,000 bags (1 bag = 100 kg), up 2,000 bags from the previous day.
* India’s soymeal production rose to 964,000 tn in November from 599,000 tn a year ago. The output for Oct-Nov was 1.6 mln tn against 1.1 mln tn in the year-ago period, according to the Soybean Processors Association of India.
* Indian soymeal is non-genetically modified and considered rich in protein. Primarily used as poultry and livestock feed, it is produced during soybean oil extraction. End
Edited by Ashish Shirke
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