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Informist, Tuesday, Aug 6, 2024

By Anjali Lavania

MUMBAI – Prices of mustard fell in Jaipur and those of soybean fell in Indore, traders said, adding that groundnut prices were steady at Gondal in Gujarat.
 

MUSTARD seed prices in Jaipur, Rajasthan, fell by 25 rupees from Monday at 6,075-6,100 rupees per 100 kg. Arrivals in Rajasthan were up 5,000 bags (1 bag = 50 kg) at 170,000 bags. Arrivals across the country were also up by 10,000 bags to 300,000 bags, according to Marudhar Trading Agency. Mustard prices at Kota in Rajasthan were down by 50 rupees at 5,500 rupees per 100 kg, with arrivals unchanged at 6,000 bags, said Mahesh Sameriya, a Rajasthan-based trader.

Arrivals of mustard seed across the country in July are estimated at 850,000 tn, according to a report by the Jaipur-based Marudhar Trading Agency. Mills across India crushed around 900,000 tn of mustard seed in July, the report showed. "Crushing was less in July as compared to June as seasonal demand ended," a trader from the agency said. Due to sluggish demand, millers are buying cautiously, he said. Millers are also not interested in storing the oilseed with seasonal demand over, he added. Wholesale prices of refined mustard oil were steady at 1,140 rupees per 10 ltr in Mumbai, data from The Solvent Extractors' Association of India showed.

SOYBEAN prices in Indore, Madhya Pradesh, were down by 20 rupees at 4,080-4,310 rupees per 100 kg, with arrivals down by 1,000 bags at 1,600 bags (1 bag = 90 kg), said Mukesh Mangal, a local trader. However, soybean prices in Kota were up 10 rupees at 4,250 rupees per 100 kg, with arrivals unchanged at 8,000 bags. "Prices have been hovering around 4,300 rupees per 100 kg for a month," said Sandeep Sarda, another trader from the state. Any improvement now in soybean prices will be rare, Sarda said. Wholesale prices of refined soyoil were down 0.5% at 955 rupees per 10 ltr in Mumbai, according to SEA.

GROUNDNUT prices in Gondal, Gujarat, were steady at 5,800 rupees per 100 kg, with arrivals up slightly by 100 bags (1 bag = 45 kg) at 600 bags, said Ashok Virvani, a Gujarat-based trader. "Export demand is gradually declining as stocks are getting damaged by rain and are also moisture-laden," said Amit Patel, a trader from Gujarat. Moreover, arrivals in mandis are also declining. Wholesale prices of refined groundnut oil were steady at 1,480 rupees per 10 ltr in Mumbai, data from the SEA showed. 

On the National Commodity and Derivatives Exchange:

--The August contract of crude SUNFLOWER oil ended at 905 rupees per 10 kg, down 0.4% from the previous close.

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

End

Edited by Akul Nishant Akhoury

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