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Informist, Wednesday, Oct. 9, 2024

By Afra Abubacker

NEW DELHI – Prices of mustard, soybean, and groundnut were steady in major markets across the country, traders said. However, traders see oilseed prices improving in the near term due to firm Diwali demand.

MUSTARD prices in Jaipur, Rajasthan, were unchanged at INR 6,900-6,975 per 100 kg from Monday. Arrivals were down 20,000 bags (1 bag = 50 kg) to 150,000 bags in Rajasthan. Similarly, all over the country, arrivals were down by 50,000 bags to 300,000 bags, according to Marudhar Trading Agency.

In Kota, Rajasthan, mustard prices were unchanged at INR 6,500 per 100 kg with arrivals down 500 bags to 5,500 bags (1 bag = 50 kg), Mahesh Sameriya, a Rajasthan-based trader said. Mustard prices may gain support in the coming days due to the firm festival demand for upcoming festivals like Dussehra and Diwali, Sameriya said.

SOYBEAN prices in Indore, Madhya Pradesh were unchanged at INR 4,250-4,650 per 100 kg, Mukesh Mangal, a local trader said. However, soybean prices in Kota, Rajasthan were down INR 50 to INR 4,450 per 100 kg, and arrivals rose 5,000 bags to 50,000 bags from Tuesday, Sameriya said.

In Ujjain, Madhya Pradesh, soybean prices were steady in the range of INR 4,400-4,700 per 100 kg, Narendra Porwal, another Madhya Pradesh-based trader said. "Millers are purchasing only limited quantities due to bulk buying done earlier," Porwal said. Also, soybean prices are under pressure amid arrivals of moisture-laden new crop, and high stocks of old crops with farmers, millers, and stockists, he added. However, the firm demand during festivals like Diwali may limit the fall in prices, he said.

GROUNDNUT prices were steady in Gondal, Gujarat, and in the range of INR 5,500-8,000 per 100 kg, Ashok Virvani, a Gujarat-based trader said. "Prices are getting support due to festival demand," Virvani said. However, new arrivals with high moisture content of 10-20% are likely to drag prices down in the near term, he said.

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

End

With inputs from Anjali Lavania

Edited by Deepshikha Bhardwaj

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