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Informist, Friday, Aug 2, 2024

Anjali Lavania

MUMBAI – Prices of mustard rose today while those of soybean fell today in Jaipur, Rajasthan, and Indore, Madhya Pradesh, respectively, traders said. Groundnut prices were steady in Gondal, Gujarat, they said. 
 

MUSTARD seed prices in Jaipur, Rajasthan, were up by 50 rupees at 6,050-6,075 rupees per 100 kg. Arrivals in Rajasthan were down 20,000 bags (1 bag = 50 kg) at 150,000 bags. Similarly, arrivals across the country were down 25,000 bags to 275,000 bags, according to Marudhar Trading Agency. Mustard prices in Kota were up 100 rupees at 5,600 rupees per 100 kg, with arrivals remaining the same at 7,000 bags, Mahesh Sameriya, a Rajasthan-based trader, said. "Fluctuations of 30–50 rupees do not affect the market much," Sameriya said. Improvement in mustard prices could be expected in the long term but at a slower pace, Sameriya said. 

SOYBEAN prices in Indore were down 20 rupees at 4,100-4,330 rupees per 100 kg, with arrivals down 100 bags at 1,650 bags(1 bag = 90 kg), Tilok Chaged, a local trader, said. However, soybean prices in Kota were steady at 4,300 rupees per 100 kg, with arrivals also up 1,000 bags to 8,000 bags. No major improvement in soybean is expected in the long term, said Sandeep Sarda, another Madhya Pradesh-based trader. Prices could increase after mid-November as fewer arrivals will be there in markets, he said. S

GROUNDNUT prices in Gondal, Gujarat, were steady at 5,800 rupees per 100 kg, with arrivals down by 50 bags (1 bag = 45 kg) to 450 bags, said Ashok Virvani, a Gujarat-based trader. "Export demand for Indian groundnut has been very low recently due to the large moisture content in stocks which is degrading the quality," Amit Patel, a local trader in Gujarat said. Moreover, heavy rainfall in Gujarat is a difficulty for farmers to bring their stocks to markets, he added.

Groundnut sowing in Gujarat has crossed 1.88 mln ha during the ongoing kharif season 2024, the highest since 2021, according to media reports. According to the latest data released by Gujarat's Agriculture, Farmers' Welfare and Cooperation department, groundnut sowing has increased by 16%, which is more than 1.62 mln ha sown during 2023, the report mentioned. Currently, acreage at 1.88 mln ha in Gujarat is also the highest in the last two years, the report said. 

On the 1632 National Commodity and Derivatives Exchange:

--The August contract of crude sunflower oil ended at 909.9 rupees per 10 kg, up 1.7% from the previous close.

The following table details the prices in major markets, along with the changes:

End

Edited by Deepshikha Bhardwaj

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