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Informist, Tuesday, Aug 13, 2024

By Anjali Lavania 

MUMBAI – Mustard and soybean prices fell slightly in Jaipur, Rajasthan, and in Indore, Madhya Pradesh, respectively, traders said. Prices of groundnut were steady in Gondal, Gujarat, they added.

MUSTARD seed prices in Jaipur were down 25 rupees at 6,050-6,075 rupees per 100 kg. Arrivals in the state were down 10,000 bags at 115,000 bags (1 bag = 50 kg). Arrivals all over India were down 25,000 bags at 200,000 bags. Mustard seed prices in Kota, Rajasthan, were unchanged at 5,500 rupees per 100 kg, with arrivals being unchanged at 6,500 bags, said Mahesh Sameriya, a trader in Rajasthan. "No long term improvement is expected in mustard prices recently," Sameriya said. However, short-term improvement is expected ahead of festival demand, he said. 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 20 rupees at 4,020-4,250 rupees per 100 kg, according to Sandeep Sarda, a local trader. Arrivals of soybean were 4,330 bags (1 bag = 90 bags). "Soybean arrivals have increased significantly as new crops will arrive in mandi in one or two months, and farmers want to sell off old stocks soon," Sarda said. Moreover, huge imports of edible oils are also weighing on prices, he said. 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. Wholesale prices of refined soyoil were steady at 950 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 at 1,200 bags (1 bag = 45 kg). Sluggish export demand and poor quality of arrivals with high moisture content are pushing down prices, Ashok Virvani, a local trader from the state said. Groundnut prices could improve in early October, he said. On Monday, groundnut prices were unavailable as markets were shut due to the fourth 'Shravan Sawan Somwar', he said. Wholesale prices of refined groundnut oil were steady at 1,430 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 900 rupees per 10 kg, up 0.7% from the previous close.

--The September contract of crude SUNFLOWER oil ended at 910 rupees per 10 kg, up 1.3% from the previous close.

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

End

Edited by Manisha Baxla

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