India Edible Oil: Mustard up on firm demand; soybean largely steady

Informist, Thursday, Apr 28, 2022

By Uddipta Banerjee

NEW DELHI – Prices of mustard rose in the benchmark market of Jaipur in Rajasthan, while those of soybean remained largely unchanged in Indore, the benchmark market in Madhya Pradesh, today, traders said.

* In Jaipur, MUSTARD was sold at 7,400 rupees per 100 kg, up 75 rupees from Wednesday. Arrivals were pegged at 650,000 bags (1 bag = 84 kg), unchanged from the previous day.

* Robust demand for mustard from international stockists, driven primarily by supply concerns regarding sunflower oil from the Russia-Ukraine corridor, is likely to lend support to prices of the oilseed in the near term, said a trader with Manishankar Oils.

* Even with India pegging record mustard seed production in 2021-22, farmers are refraining from bringing their produce to the market in large quantities as they are waiting for prices to rise further, the trader added.

* SOYBEAN arrivals in Indore were pegged at 700 bags (1 bag = 100 kg), unchanged from Wednesday, said local trader N.K. Aggarwal. The oilseed was sold steady at 7,500-7,700 rupees per 100 kg.

* Farmers are bringing lesser produce to the market due to low availability of stock as the end of the season approaches for the soybean, he said. End

Edited by Aditya Sakorkar

Cogencis news is now Informist. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

Informist Media Tel +91 (11) 4220-1000

Send comments to [email protected]

Source: Cogencis