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Informist, Monday, Oct. 21, 2024

By Anjali Lavania and Taniva Singha Roy

MUMBAI – Prices of all oilseeds were down today in the benchmark markets of India, traders said. Due to continuous rainfall in Gujarat, the quality of the groundnut crop was being affected, they added.

MUSTARD prices in Jaipur, Rajasthan, fell by INR 25 to INR 6,525-6,550 per 100 kg from Saturday. Arrivals in Rajasthan increased by 25,000 bags to 165,000 bags. Arrivals all over the country increased by 65,000 bags to 325,000 bags (1 bag = 50 kg), according to Marudhar Trading Agency. "Temporary increase is possible in the coming week due to the festival demand for Diwali," said Mahesh Sameriya, a Rajasthan-based trader. However, most millers have done bulk-buying and, hence, positive fluctuations will be gradual.

Similarly, in Kota, Rajasthan, mustard prices were down INR 350 at INR 6,200 per 100 kg, with arrivals falling by 500 bags to 5,000 bags (1 bag = 50 kg), Sameriya added.

SOYBEAN prices in Indore, Madhya Pradesh were down by INR 200 at INR 4,390-4,700 per 100 kg from Saturday, Mukesh Mangal, a local trader, said. "Huge arrivals of soybeans and damaged quality due to rainfall are weighing on the legume prices," Shailendra Soni, another trader from Indore said. "Near Diwali and after the festival, some increase in soybean prices may be seen," Sandeep Sarda, another trader from the state, said. Government procurement would soon support legume prices, Sarda said.

Similarly, soybean prices in Kota, Rajasthan were down by INR 100 at INR 4,500 per 100 kg, with arrivals decreasing by 10,000 bags to 50,000 bags (1 bag = 90 kg), Sameriya said.

GROUNDNUT prices fell by INR 500 in Gondal, Gujarat, and were in the range of INR 5,000-8,000 per 100 kg, Ashok Virvani, a Gujarat-based trader said. "It has been raining heavily for the past 12 days," Virvani added. There are almost no arrivals in various mandis. Today, it rained very heavily and more new crops of groundnuts were damaged. "Groundnut fields are starting to fill up with water," Jatin Patel, another trader from the Saurashtra mandi said.

Farmers in Gujarat have sown groundnut across 1.91 million hectares this kharif season, up 0.2% from 1.64 million hectares last year, according to a crop survey by the Solvent Extractors' Association of India. Gujarat is the top producer of the commodity in the country.

Groundnut output in Gujarat is estimated at 4.2 million tonnes, up from 3.3 million tonnes last year, according to the release. This significant increase can be attributed to a higher yield, at 2,210 kg per hectare, against last year's 2,045 kg per hectare, it said.

Owing to scattered showers in certain districts of Gujarat, crops that were sown early have been damaged. During the past three days, several parts of Saurashtra have received heavy showers, which may further damage the crop that has been harvested and lying in the field and this is likely to delay the arrivals, according to the report. 

End

Edited by Avishek Dutta

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