India Edible Oil
Mustard, groundnut down; soybean flat in key mrkts
This story was originally published at 20:41 IST on 16 October 2024
Register to read our real-time news.Informist, Wednesday, Oct. 16, 2024
By Anjali Lavania
MUMBAI – Prices of mustard and groundnut fell in key spot markets on Wednesday, while those of soybean remained steady, traders said. Traders said they were bullish on the three oilseeds and prices are likely to rise in the coming days, they said.
MUSTARD prices in Jaipur in Rajasthan fell INR 75 to INR 6,650-6,675 per 100 kilograms on Wednesday. Arrivals in Rajasthan declined by 25,000 bags to 150,000 bags. Arrivals all over the country were down by 50,000 bags to 300,000 bags (1 bag = 50 kg), according to Marudhar Trading Agency.
"The overall trend is bullish, there are temporary falls in seed prices which will be recovered in the short-term," Mahesh Sameriya, a Rajasthan-based trader said.
Mustard prices in Kota in Rajasthan were, however, up by INR 50 to INR 6,550 per 100 kilograms. The arrivals in the market were unchanged at 6,500 bags (1 bag = 50 kg), Sameriya added.
SOYBEAN prices in Indore in Madhya Pradesh were steady at INR 4,150-4,550 per 100 kilograms, Mukesh Mangal, a local trader said. "The government may start procuring the crop from Oct. 25, which may support the legume prices," Shailendra Soni, another trader from Indore, said.
Soybean prices in Kota were also steady at INR 4,500 per 100 kilograms with arrivals remaining unchanged at 55,000 bags (1 bag = 90 kilograms), Sameriya said.
GROUNDNUT prices in Gondal in Gujarat fell INR 200 to INR 5,500-8,000 per 100 kilograms, Ashok Virvani, a Gujarat-based trader said. "Groundnut prices may increase from mid-November when the arrivals start decreasing," Virvani said. Currently, it is the peak arrival season for groundnut, Virvani said.
COMMODITY | MARKET | PRICE (INR/100 kgs) | CHANGE (in INR) |
Mustard | Jaipur | 6,650-6,675 | (-)75 |
Soybean | Indore | 4,150-4,550 | unch |
Groundnut | Gondal | 5,500-8,000 | (-)200 |
End
Edited by Saji George Titus
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