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Informist, Friday, Sep 6, 2024

By Anjali Lavania

MUMBAI – Prices of mustard and groundnut rose in Jaipur, Gondal, while those of soybean fell in Indore, traders said. Sluggish buying of soybean just ahead of the harvest is worrying the farmers, they said. 

MUSTARD seed prices in the benchmark market of Jaipur in Rajasthan rose by 50 rupees to 6,450-6,475 rupees per 100 kg. Arrivals fell by 15,000 bags to 170,000 bags (1 bag = 50 kg). Similarly, arrivals across the country fell by 25,000 bags to 325,000 bags, according to Marudhar Trading Agency. 

Arrivals of mustard seed across the country in August are estimated at 600,000 tn, according to a report by Jaipur-based Marudhar Trading Agency. Mills across India crushed around 1.0 mln tn of mustard seed in August, the report showed.

"Mustard prices are expected to remain range bound at current levels, until the upcoming 2024-25 rabi season," Mahesh Sameriya, a Jaipur-based trader said. The new mustard crop will be sown from the third week of September in Rajasthan. In most other states, it will be sown in October. However, mustard prices in Kota, Rajasthan, were steady at 5,800 rupees with arrivals also steady at 1,500 bags, Sameriya said.

Wholesale prices of refined mustard oil were steady at 1,140 rupees per 10 ltr in Mumbai, according to data from The Solvent Extractors Association of India.

SOYBEAN prices in Indore, Madhya Pradesh, fell by 50 rupees and were in the range of 4,400-4,550 rupees per 100 kg, according to Mukesh Mangal, a local trader. "The declining prices of the commodity just ahead of harvest is worrying the farmers," said Neeraj Sahu, another local trader. However, soybean prices in Kota, Rajasthan were up by 50 rupees at 4,500 rupees per 100 kg with arrivals down by 1,000 bags at 6,000 bags, Sameriya said. New crops of soybeans arrived in Chawani mandi in Indore today, Kailash Kakani, a Madhya-Pradesh trader said. 

Wholesale prices of refined soyoil were up 0.5% at 990 rupees per 10 ltr in Mumbai, according to the SEA.

GROUNDNUT prices in Gondal, Gujarat, were up by 100 rupees at 5,200 rupees per 100 kg, said Ashok Virvani, a local trader. Arrivals were also up by 1,200 bags to 6,000 bags (1 bag = 45 kg). "After many days, demand is improving but at a slow pace," Virvani said. However, due to heavy rainfall, the standing crops of groundnuts are affected, Virvani said. 

Wholesale prices of refined groundnut oil were steady at 1,470 rupees per 10 ltr in Mumbai, data from the SEA showed.

On the National Commodity and Derivatives Exchange:

--The September contract of crude SUNFLOWER oil was up 0.4% at 944 rupees per 10 kg.

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

End

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