India Edible Oil
Mustard, groundnut down in key markets; soybean steady
This story was originally published at 19:06 IST on 27 November 2024
Register to read our real-time news.Informist, Wednesday, Nov. 27, 2024
By Anjali Lavania
MUMBAI – Prices of mustard and groundnut prices fell in key spot markets across the country Wednesday, while soybean were steady, traders said.
MUSTARD seed prices fell by INR 25 to INR 6,625-6,650 per 100 kg in Jaipur in Rajasthan. Arrivals in Rajasthan were down by 15,000 bags to 100,000 bags (1 bag = 50 kg). Arrivals across the country were down by 25,000 bags to 200,000 bags, according to Marudhar Trading Agency.
"Mustard prices have shown improvement in previous weeks. However, delayed sowing remains a concern due to unfavourable and insufficient rains, especially in northeastern regions and central India," said Mahesh Sameriya, a trader from Rajasthan. Mustard seed prices in Kota in Rajasthan fell by INR 50 to INR 6,100 per 100 kg. Arrivals in the market were down by 500 bags to 3,500 bags, Sameriya said.
SOYBEAN prices in Indore in Madhya Pradesh were steady at INR 3,900-4,400 per 100 kg, Narendra Porwal, a trader from the state, said. Arrivals were up by 200 bags to 2,500 bags (1 bag = 90 kg), he said. "Soybean prices are affected by huge imports, sluggish soymeal export and weak demand for domestically produced soyoil," Porwal said. Soybean prices in Kota were steady at INR 4,370 per 100 kg, with arrivals also steady at 40,000 bags, Sameriya said.
GROUNDNUT prices in Gondal in Gujarat fell by INR 50 to INR 5,250-6,850 per 100 kg, Ashok Virvani, a trader from the state, said. Due to higher arrivals of poor-quality groundnut, prices fell slightly on Wednesday. With the government starting procurement, groundnut prices may gain some support in the medium-term, he said.
COMMODITY | MARKET | PRICE (INR/100 kg) | CHANGE (in INR) |
Mustard | Jaipur | 6,625-6,650 | (-)25 |
Soybean | Indore | 3,900-4,400 | - |
Groundnut | Gondal | 5,250-6,850 | (-)50 |
End
Edited by Saji George Titus
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