Informist, Friday, Mar 11, 2022

By Uddipta Banerjee

NEW DELHI – Prices of mustard rose across key spot markets today, while those of soybean remained largely unchanged, traders said.

* In December, the Securities and Exchange Board of India had banned trading in soybean and its derivatives, mustard and crude palm oil for a year. The volumes in existing contracts of these commodities on the National Commodity and Derivatives Exchange and the Multi Commodity Exchange are negligible.

* In Jaipur, Rajasthan, MUSTARD was sold for 7,300 rupees per 100 kg, up 50 rupees from Thursday, a trader with Manishankar Oils said.

* Arrivals were pegged at 1.23 mln bags (1 bag = 84 kg), as against 1.18 mln bags on the previous day.
 

* Mustard prices rose marginally today due to increased demand from oil millers, the trader said.

* SOYBEAN prices were largely unchanged in Madhya Pradesh's Indore, the benchmark market for the oilseed, amid steady demand from domestic oil millers and crushers, traders said.

* The oilseed was sold at 7,200-7,400 rupees per 100 kg, unchanged from Thursday.

* Arrivals were pegged at 700 bags (1 bag = 100 kg), down 300 bags from Thursday, said a local trader N.K. Aggarwal.

* Farmers are holding their stocks in anticipation of a further rise in prices in the near term. Market participants are expecting arrivals to increase post Holi, Aggarwal added.

* By the end of February, mills, traders, and farmers were left with around 7.6 mln tn of soybean stock, the Soybean Processors Association of India said in a release on Thursday.  End

Edited by Arshad Hussain

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