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Informist, Tuesday, Oct. 1, 2024

By Anjali Lavania

MUMBAI – Prices of mustard and groundnut were slightly down and soybean were stable in spot markets across the country, traders said. Prices of mustard and groundnut were down on Tuesday mainly because of concerns about the moisture content in the seeds arriving now, they said.

MUSTARD prices in Jaipur in Rajasthan were down by INR 25 to INR 6,975-7000 per 100 kilograms. Arrivals in the state on Tuesday increased by 15,000 bags to 165,000 bags (1 bag = 50 kilograms), according to Marudhar Trading Agency. Mustard arrivals in the country were up by 40,000 bags to 350,000 bags.

"Arrivals of good quality seeds which have 44-47% oil content were less," Mahesh Sameriya, a Rajasthan-based trader said. The prices were down because of the quality of seeds, he said. Also, limited purchases by millers are keeping prices down, Sameriya said.

SOYBEAN prices were steady in the range of INR 4,450-4,750 per 100 kilograms, Mukesh Mangal, a local trader said. Arrivals were unchanged at 1,500 bags (1 bag = 90 kilograms). "Arrivals in the market are not of very good quality with a moisture content of 10-20%," he said. New arrivals after the harvest usually have high moisture. Mangal expects the government procurement of soybean from mid-October to help support the prices in the long-run.

GROUNDNUT prices were down INR 200 from Monday at INR 5,300-5,800 per 100 kilograms, Ashok Virvani, a Gujarat-based trader said. Arrivals of high moisture content crops were more on Tuesday, Virvani said. Arrivals with the most moisture content of 15-20% were priced at INR 4,700-4,800 per 100 kilograms, he added. Virvani expects groundnut prices to increase in the short-term due to festival demand during Diwali.

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

End

Edited by Saji George Titus

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