Informist, Tuesday, Oct 11, 2022
By Puja Das
NEW DELHI – Prices of mustard today declined in the benchmark market of Jaipur, Rajasthan, and those of soybean were flat at Indore in Madhya Pradesh.
* MUSTARD was sold at 6,575-6,600 rupees per 100 kg, down by 50 rupees from Monday, due to a rise in supply. Arrivals were pegged higher at 225,000 bags (1 bag = 84 kg), compared with 200,000 bags the previous day.
* Demand for the oilseed is seen rising as Diwali approaches. However, higher supply is likely to limit the upside in prices ahead of new crop plantation, said Rupesh Parekh, a trader with Marudhar Trading.
* Farmers may begin planting new season’s rabi mustard in the first week of November, Parekh said.
* Prices of SOYBEAN rose in Indore due to high demand from domestic oil millers and crushers ahead of Diwali festival.
* In Indore, the new soybean crop fetched 3,500-4,800 rupees per 100 kg, unchanged from Monday. Arrivals were also pegged flat at 10,000 bags (1 bag = 90kg).
* Supply may rise to 20,000 bags daily in each mandi over the next fortnight. However, a lot depends on weather conditions, said Mukesh Mangal, an Indore-based trader.
* Due to unseasonal rainfall, the standing oilseed crop has been damaged, and about 10% of output from the total sown area is expected from Indore district, another local trader N.K. Agarwal said.
* Prices may increase after Diwali when weather conditions improve and moisture level decreases to 13-14%. Currently, new soybean crop contains moisture about 20-25%, Agarwal said. End
Edited by Akul Nishant Akhoury
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