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Informist, Tuesday, Nov. 26, 2024

By Anjali Lavania

MUMBAI – Mustard and groundnut prices rose in key spot markets across the country Tuesday, traders said. Prices of soybean fell in Indore, Madhya Pradesh, they said.

MUSTARD seed prices were up by INR 50 to INR 6,650-6,675 per 100 kg in Jaipur, Rajasthan. Arrivals in Rajasthan were unchanged at 115,000 bags (1 bag = 50 kg). Similarly, arrivals were unchanged at 225,000 bags across the country, according to Marudhar Trading Agency.

"With the wedding season around, mustard prices may gain some momentum in coming weeks," said Mahesh Sameriya, a trader from Rajasthan. Similarly, mustard seed prices in Kota, Rajasthan, were up by INR 50 to INR 6,150 per 100 kg. Arrivals at the market were unchanged at 4,000 bags, Sameriya said.

SOYBEAN prices in Indore were down by INR 100 to INR 3,900-4,400 per 100 kg, said Narendra Porwal, a trader from the state. Arrivals were up by 800 bags to 2,300 bags (1 bag = 90 kg), he said. "The trend in the long-term appears to be bearish due to ample availability of soybean stocks," Porwal said. However, soybean prices in Kota rose by INR 69 to INR 4,370 per 100 kg, with arrivals decreasing by 2,000 bags to 40,000 bags, Sameriya said. 

GROUNDNUT prices in the market at Gondal in Gujarat rose by INR 100 to INR 5,300-6,900 per 100 kg, said Ashok Virvani, a trader from the state. "Arrivals were of good variety, including G20, bold kernel and 66-nabar," Virvani said. Some varieties were even priced at INR 7,100 per 100 kg, he said. However, there are also abundant arrivals with high moisture content, which could create problems in the long-term, he said.  

On the National Commodity and Derivatives Exchange:

--The November contract of crude SUNFLOWER oil was down 0.3% at INR 1,314.70 per 10 kg.

--The December contract of crude SUNFLOWER oil was up 0.2% at INR 1,322.90 per 10 kg.

End

Edited by Deepshikha Bhardwaj

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