India Edible Oil
Mustard prices down, soybean steady, groundnut unavailable
This story was originally published at 20:28 IST on 5 November 2024
Register to read our real-time news.Informist, Tuesday, Nov. 5, 2024
By Afra Abubacker
NEW DELHI – Mustard prices fell in Jaipur, Rajasthan, while soybean prices remained unchanged in Indore, Madhya Pradesh, traders said. Sowing of mustard has started in some parts of the country, traders said. Groundnut prices were unavailable as the market remained shut on Tuesday. The market will reopen on Wednesday, traders said.
MUSTARD prices in Jaipur were down INR 25 at INR 6,775-6,800 per 100 kg. Arrivals in Rajasthan were 115,000 bags (1 bag = 50 kg) and across India at 200,000 bags, according to Marudhar Trading Agency. Prices are seen largely steady with a downside bias in the long run, Mahesh Sameriya, a local trader said.
"The sowing of mustard has started in some parts of the country," Sameriya said. Mustard is a rabi crop grown majorly in Rajasthan, Haryana, and Madhya Pradesh.
SOYBEAN prices in Indore were steady at INR 4,600-4,700 per 100 kg, local trader Mukesh Mangal said. Though the Madhya Pradesh government is procuring soybean to support prices, large soyoil imports and moisture-laden arrivals are weighing on prices, local trader Narendra Porwal said. Soybean market rates have been trading below the minimum support price of INR 4,892 per 100 kg. "Huge imports of soyoil by the country during the festival season is weighing on the prices," Porwal said.
GROUNDNUT prices were unavailable as the market in Gondal, Gujarat, remains shut after it closed for Diwali on Oct. 28, traders said. The market will reopen Wednesday, local trader Ashok Virvani said.
COMMODITY | MARKET | PRICE (INR/100 kg) | CHANGE (in INR) |
Mustard | Jaipur | 6,775-6,800 | (-)25 |
Soybean | Indore | 4,600-4,700 | unch |
Groundnut | Gondal | --- | -- |
End
Edited by Ashish Shirke
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