Informist, Wednesday, Mar 9, 2022

By Uddipta Banerjee

NEW DELHI – Prices of mustard seed and soybean were higher in key spot markets today due to firm demand from domestic buyers, amid supply concerns due to the ongoing Russia-Ukraine war, 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.

* MUSTARD was sold for 7,175 rupees per 100 kg today in Jaipur, Rajasthan, compared with 7,075 rupees per 100 kg on Tuesday, said a trader with Jaipur-based Manishankar Oils.

* Arrivals were pegged at 1.15 mln bags (1 bag = 84 kg), compared with 1.18 mln bags the previous day.

* Prices of SOYBEAN were higher today in Rajasthan's Kota, a key market for the oilseed, because of firm demand from domestic crushers and stockists, traders said.

* Arrivals were pegged steady at 200 bags (1 bag = 100 kg), said local trader Chander Khandelwal. The oilseed was sold at 7,500-7,700 rupees per 100 kg, up 200 rupees from Tuesday.

* Farmers are holding their stocks in anticipation of further rise in prices in the near term, due to which arrivals have witnessed a sharp fall in the last few days, said Khandelwal.   End

Edited by Pranav S. Joshi

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