India Edible oil
Most oilseeds dn as rains damage arrivals; mustard up
This story was originally published at 18:54 IST on 24 October 2024
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By Afra Abubacker
NEW DELHI – Soybean and groundnut prices fell in key markets as heavy rains affected the arrival quality, traders said. Mustard rates rose due to firm festival demand, they said.
MUSTARD prices in Jaipur in Rajasthan rose by INR 125 to INR 6,675-6,700 per 100 kg on Thursday. Arrivals were at 140,000 bags (1 bag = 50 kg), according to Marudhar Trading Agency. Arrivals all over the country were down by 25,000 bags to 275,000 bags (1 bag = 50 kg).
"Mustard prices may remain on the higher side in the upcoming weeks due to strong demand during festivals like Diwali and moderate arrivals, not only in Rajasthan but in other states as well," Mahesh Sameriya, a Rajasthan-based trader said.
SOYBEAN prices in Indore in Madhya Pradesh were down INR 100 at 4,190-4,694 per 100 kg, Mukesh Mangal, a local trader, said. Heavy rains had damaged arrivals and moisture-laden arrivals are priced at INR 3,600 per 100 kg, Mangal said. Arrivals were at 3,900 bags (1 bag = 90 kilograms), up by 300 bags from the previous day.
Soybean prices may improve in the coming days as the Madhya Pradesh government is set to procure soybean seeds from Friday, Sandeep Sarda, another trader from the state said. Prices of soybean in Kota in Rajasthan, were steady at INR 4,500 per 100 kg and arrivals increased by 5,000 bags to 55,000 bags (1 bag = 90 kilograms), Sameriya said.
GROUNDNUT prices in Gondal in Gujarat were down INR 400 at INR 4,600-8,000 per 100 kg, said Ashok Virvani, a Gujarat-based trader. Prices were almost similar in Saurashtra mandi too, he added. Most of the new groundnut arrivals were damaged due to heavy rains, he said.
COMMODITY | MARKET | PRICE (INR/100 kilograms) | CHANGE (in INR) |
Mustard | Jaipur | 6,675-6,700 | 125 |
Soybean | Indore | 4,190-4,694 | (-)100 |
Groundnut | Gondal | 4,600-8,000 | (-)400 |
End
Edited by Saji George Titus
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