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Informist, Friday, Aug 9, 2024

By Anjali Lavania

MUMBAI – Mustard prices were steady in Jaipur, while those of soybean and groundnut were down in Indore and Gondal, respectively, traders said. 

MUSTARD seed prices in Jaipur, Rajasthan, were steady at 6,075-6,100 rupees per 100 kg. Arrivals in the state were down by 20,000 bags to 150,000 bags (1 bag = 50 kg). Arrivals all over India were down by 25,000 bags to 275,000 bags.

Mustard seed prices in Kota, Rajasthan, were steady at 5,570 rupees per 100 kg with arrivals unchanged at 7,000 bags, said Mahesh Sameriya, a trader in Rajasthan. "Prices of oilseeds and edible oils could increase in mid-August due to the start of festival demand, but this will be for a short duration," Sameriya said. Sluggish buying by oil mills is also weighing on oilseed prices, he said. With millers not interested in storing mustard, cautious buying is seen in markets currently, he said.

SOYBEAN prices in Indore, Madhya Pradesh, were down 20 rupees at 4,060-4,290 rupees per 100 kg, according to Mukesh Mangal, a local trader. "Huge imports of soyoil are affecting soybean prices negatively," said Sandeep Sarda, another trader from the state. Imports of soyoil are estimated to have increased over 90% in July to 469,441 tn, from 245,220 tn in June, according to Sunvin Group. Any improvement now in soybean prices will only be seen after mid-November, Sarda said.

GROUNDNUT prices in Gondal, Gujarat, were down 50 rupees at 5,800 rupees per 100 kg, with arrivals down by 170 bags at 330 bags (1 bag = 45 kg), Amit Patel, a Gujarat-based trader, said. "Groundnut acreage has increased in Gujarat due to a decline in cotton acreage amid rising pink bollworm attacks on the crop," Patel said. Overall, groundnut prices are falling due to increased sowing and sluggish export demand, coupled with arrivals of degraded stock amid moisture-laden weather conditions since early June, Ashok Virvani, another trader from the state, said. This trend could continue till September, Virvani added.

The area under groundnut in Gujarat has increased to 1.9 mln ha, up 16.9% on year, as per the state acreage report released Monday.

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

End

Edited by Rajeev Pai

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