More Stories

Informist, Monday, Oct. 7, 2024

By Afra Abubacker

NEW DELHI – Prices of mustard seed fell slightly in Jaipur, Rajasthan, while groundnut prices in Gondal, Gujarat were steady, traders said. Soybean prices in Indore, Madhya Pradesh, were also steady, they said.

MUSTARD prices fell by 50 rupees from Saturday to INR 6,975-7,000 per 100 kg. Arrivals rose by 30,000 bags (1 bag = 50 kg) to 170,000 bags in Rajasthan. Across the country, arrivals increased by 100,000 bags to 350,000 bags, according to Marudhar Trading Agency.

"The overall trend since the last two weeks has been bullish for mustard seeds," Mahesh Sameriya, a Rajasthan-based trader, said. He said the fall in prices Monday was a temporary change and not likely to continue in the long run. Sameriya sees prices rising further in the near term due to firm demand during Diwali.

In Kota, Rajasthan, mustard prices were up by 150 rupees at 6,600 rupees per 100 kg, with arrivals down by 1,500 bags to 4,000 bags (1 bag = 50 kg), Sameriya said.

SOYBEAN prices in Indore were steady at INR 4,300-4,600 per 100 kg, said Mukesh Mangal, a local trader. Government procurement of the legume seed in mid-October may support prices in the long run, Mangal said. Prices are still below the minimum support price of INR 4,892 rupees per 100 kg, he said. Arrivals were unchanged at 4,500 bags (1 bag = 90 kg), Mangal added. However, soybean prices in Kota were down INR 4,550 per 100 kag, with arrivals increasing by 20,000 bags to 40,000 bags from Friday, Sameriya said.

GROUNDNUT prices were steady in Gondal in the range of INR 5,500-8,000 per 100 kg, Jatin Patel, a Gujarat-based trader, said. New arrivals with a high moisture content of 10-20% were priced at INR 4,000-5,000 per 100 kg, Patel said. He does not see groundnut prices rising in the coming week due to moisture-laden arrivals of the new crop, as well as low export demand. However, he is optimistic that groundnut prices may get some support from demand during Diwali.

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

End

With inputs from Anjali Lavania

Edited by Avishek Dutta

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

Informist Media Tel +91 (11) 4220-1000

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2024. All rights reserved.