Informist, Thursday, Mar 2, 2023
By Ashtha Tiwari
NEW DELHI – Prices of mustard in Jaipur and soybean in Indore rose today due to a surge in demand from oil millers and crushers, traders said.
* Prices of MUSTARD rose in the benchmark market of Jaipur because of high demand from crushers and millers, said Rupesh Parekh, a trader with Marudhar Trading. In Jaipur, mustard seed was sold at 5,725-5,750 rupees per 100 kg, up 100 rupees from Wednesday, and arrivals were pegged at 990,000 bags (1 bag = 50 kg), up 40,000 bags.
* Prices of mustard in the domestic market are likely to improve as the Solvent Extractors' Association of India has urged the government to procure mustard seeds, as prices of the oilseed are likely to fall below the minimum support price due to a rise in daily arrivals. The industry body said the drop in prices was leading to financial loss and distress to mustard farmers.
* The US Department of Agriculture has forecast mustard output at a record high of 11.3 mln tn in 2022-23. In its second advance estimate, the government has pegged India's mustard production at 12.8 mln tn as against 12.0 mln tn last year.
* Prices of SOYBEAN in Indore were up due to high demand from millers, big buyers, and crushers, said Mukesh Mangal, a local trader. Today, soybean was sold at 5,200-5,360 rupees per 100 kg, up 35 rupees from Wednesday, and arrivals remained steady at 2,000 bags (1 bag = 84 kg).
* Soybean prices are likely to remain in the range of 5,400-5,900 rupees per 100 kg in the coming week, Origo e-Mandi said in its Daily Commodity Intelligence report.
* Bumper mustard seed arrivals and higher soybean supplies will keep prices of domestic oil and oilseeds insulated from international markets, according to the report by Origo e-Mandi. End
Edited by Avishek Dutta
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
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Informist, Thursday, Mar 2, 2023
By Ashtha Tiwari
NEW DELHI – Prices of mustard in Jaipur and soybean in Indore rose today due to a surge in demand from oil millers and crushers, traders said.
* Prices of MUSTARD rose in the benchmark market of Jaipur because of high demand from crushers and millers, said Rupesh Parekh, a trader with Marudhar Trading. In Jaipur, mustard seed was sold at 5,725-5,750 rupees per 100 kg, up 100 rupees from Wednesday, and arrivals were pegged at 990,000 bags (1 bag = 50 kg), up 40,000 bags.
* Prices of mustard in the domestic market are likely to improve as the Solvent Extractors' Association of India has urged the government to procure mustard seeds, as prices of the oilseed are likely to fall below the minimum support price due to a rise in daily arrivals. The industry body said the drop in prices was leading to financial loss and distress to mustard farmers.
* The US Department of Agriculture has forecast mustard output at a record high of 11.3 mln tn in 2022-23. In its second advance estimate, the government has pegged India's mustard production at 12.8 mln tn as against 12.0 mln tn last year.
* Prices of SOYBEAN in Indore were up due to high demand from millers, big buyers, and crushers, said Mukesh Mangal, a local trader. Today, soybean was sold at 5,200-5,360 rupees per 100 kg, up 35 rupees from Wednesday, and arrivals remained steady at 2,000 bags (1 bag = 84 kg).
* Soybean prices are likely to remain in the range of 5,400-5,900 rupees per 100 kg in the coming week, Origo e-Mandi said in its Daily Commodity Intelligence report.
* Bumper mustard seed arrivals and higher soybean supplies will keep prices of domestic oil and oilseeds insulated from international markets, according to the report by Origo e-Mandi. End
Edited by Avishek Dutta
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (11) 4220-1000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2023. All rights reserved.
