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Informist, Thursday, Sep 12, 2024

By Anjali Lavania 

MUMBAI – Prices of mustard seed and soybean rose in key spot markets of the country today, traders said. Groundnut prices fell in Gondal, Gujarat, as arrivals were of poor quality, they said.

MUSTARD seed prices in the benchmark market of Jaipur in Rajasthan rose by 50 rupees to 6,750-6,775 rupees per 100 kg. Arrivals were steady at 135,000 bags (1 bag = 50 kg). Arrivals across the country were also steady at 265,000 bags, according to Marudhar Trading Agency. "Rising demand from oil millers ahead of festivals like Navratri is supporting mustard prices currently," Mahesh Sameriya, a Rajasthan-based trader 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 the benchmark market of Indore in Madhya Pradesh were up 50 rupees at 4,380-4,600 rupees per 100 kg, according to local trader Mukesh Mangal. Arrivals were down by 700 bags to 1,800 bags (1 bag = 90 kg). On Wednesday, the Centre approved the Madhya Pradesh government's proposal to buy soybean from farmers at the minimum support price. This was after soybean prices fell below the minimum support price in some parts of the country, especially in Madhya Pradesh.

Wholesale prices of refined soyoil were up 0.9% at 1,030 rupees per 10 ltr in Mumbai, according to SEA.

GROUNDNUT prices in Gondal were down 100 rupees to 4,800-5,500 rupees per 100 kg, said Ashok Virvani, a local trader. Arrivals were up by 2,790 bags at 12,630 bags (1 bag = 45 kg). "Arrivals were of poor quality with high moisture content, which buyers don't usually prefer," Virvani said.

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

On the National Commodity and Derivatives Exchange:

--The September contract of crude SUNFLOWER oil was up 2.5% at 993 rupees per 10 kg.

--The October contract of crude SUNFLOWER oil was up 2.7% at 1,000 rupees per 10 kg.

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

End

Edited by Ashish Shirke

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