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Informist, Tuesday, Feb. 11, 2025

By Shreya Shetty

MUMBAI – Soybean prices rose in Indore in Madhya Pradesh on Tuesday due to the arrival of better quality seeds, traders said. Prices of mustard were up in Jaipur in Rajasthan, while those of groundnut at Gondal in Gujarat were steady, they said.

SOYBEAN prices in Indore rose INR 100 on Tuesday to INR 3,800-INR 4,150 per 100 kg, Shailendra Soni, a local trader said. "The market received arrivals of varieties with less moisture content," he said. As of Tuesday, arrivals are of better quality, with less moisture content. If soybean has a low moisture content, it is considered to have good oil content and is usually preferred by millers for crushing.

However, the gain in the domestic soybean prices is limited due to expensive palm oil and higher imports of soyoil, Soni said. Expensive palm oil will lead to higher imports of soyoil.

Soybean prices at Kota in Rajasthan were steady at INR 4,200 per 100 kg, with arrivals unchanged at 12,000 bags (1 bag = 50 kg), Mahesh Sameriya, a trader, said.

Prices of MUSTARD in Jaipur rose INR 25 from Monday to INR 6,150-INR 6,175 per 100 kg, Marudhar Trading Agency said. However, prices of mustard in Kota fell by INR 100 from Monday to INR 5,500 per 100 kg, Sameriya said.

Arrivals of mustard in Rajasthan fell by 5,000 to 80,000 bags (1 bag = 50 kg), while arrivals of the new crop across India rose by 10,000 bags to 75,000 bags. Arrivals across the country were steady at 250,000 bags, the Marudhar Trading Agency said.

Arrivals of the new mustard crop began three weeks ago, Sameriya said. The new arrivals will lead to slight fluctuation in prices every day, he said. A rise in price above INR 6,600 per 100 kg will help to set a bullish trend in the medium term, he said. For now, prices will hover around INR 6,150-INR 6,300 per 100 kg, he said.

GROUNDNUT prices in Gondal were steady at INR 5,350-INR 6,700 per 100 kg, Ashok Virvani, a local trader said. "The procurement date for groundnut in Gujarat has been extended by six more days till 15 February," Virvani said. This may support prices for the oilseeds in the near term, he said.

End

With inputs from Anjali Lavania

Edited by Saji George Titus

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