India Edible Oil
Mustard up, soybean unavailable as mrkts shut for Navratri
This story was originally published at 19:22 IST on 3 October 2024
Register to read our real-time news.Informist, Thursday, Oct. 3, 2024
By Afra Abubacker
NEW DELHI – Prices of mustard seed were up slightly Thursday in Jaipur, Rajasthan, due to firm festival demand, traders said. Similarly, prices of groundnut were up in Gondal, Gujarat, due to festival demand, they said. Soybean prices in Indore, Madhya Pradesh, were unavailable as the market was shut on the occasion of Navratri, they added.
MUSTARD prices in Jaipur were up INR 25 from Tuesday at INR 7,000-7,025 per 100 kg. Arrivals in Rajasthan declined by 40,000 bags to 125,000 bags (1 bag = 50 kg), according to Marudhar Trading Agency. Mustard arrivals across the country were down 125,000 bags to 225,000 bags.
Bulk-buying by oil millers is supporting mustard seed prices, traders said. The mandi in Kota was closed on the first day of Navratri, he added.
SOYBEAN prices in Indore were unavailable as the market was shut for Navratri, local trader Mukesh Mangal said. Most of the mandis in Madhya Pradesh were also closed Thursday, he added.
GROUNDNUT prices were down INR 200 at INR 5,500-8,000 per 100 kg, Gujarat-based trader Ashok Virvani said. High moisture content of the new crop that is arriving in the markets will likely depress prices in the long term, Virvani said. However, firm demand ahead of Diwali is likely to support prices in the coming weeks, he added.
The following table details the prices of oilseeds in major markets, along with the changes:
COMMODITY | MARKET | PRICE (INR/100 kg) | CHANGE (in INR) |
Mustard | Jaipur | 7,000-7,025 | 25 |
Soybean | Indore | --- | -- |
Groundnut | Gondal | 5,500-8,000 | 200 |
End
With inputs from Anjali Lavania
Edited by Ashish Shirke
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