India Edible Oil: Mustard prices fall in Jaipur as arrivals increase

Informist, Wednesday, Aug 9, 2023

By Arunima Bharadwaj

NEW DELHI – Prices of mustard fell today in Jaipur, Rajasthan, because of an increase in arrivals, traders said.

In Jaipur, MUSTARD was sold at 5,925-5,950 rupees per 100 kg, down 75 rupees from Tuesday due to an increase in the arrivals, said Rupesh Parekh, a local trader.

Arrivals of the oilseed were pegged at 250,000 bags (1 bag = 84 kg) in Jaipur, up 25,000 bags from Tuesday. Arrivals across the country also rose to 500,000 bags, up 50,000 bags from the previous day of trade.

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

Refined SOYBEAN was sold at 998-1,008 rupees per 10 kg in the key wholesale markets of Indore, unchanged from Tuesday, according to a poll by Cogencis.

Farmers have sown soybean across 12.2 mln ha so far this kharif season, up 7% from last year, according to a survey by the Soybean Processors Association of India.

According to the agriculture ministry, the soybean acreage so far this season is 12.4 mln ha.

In Madhya Pradesh, the largest producer of the oilseed in the country, soybean acreage is at 5.3 mln ha. Acreage in the second-largest grower, Maharashtra, is at 4.8 mln ha, data provided by SOPA showed.

The US Department of Agriculture has projected global oilseed output in 2023-24 (May-Apr) at 667.3 mln tn, lower than 671.4 mln tn estimated in June. End

Edited by Manisha Baxla

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Source: Cogencis