Informist, Friday, Nov 3, 2023

By Anjali Lavania

MUMBAI – Prices of mustard rose slightly in the benchmark market of Jaipur, Rajasthan, today ahead of Diwali, while those of soybean fell in Indore, Madhya Pradesh, due to bad-quality arrivals in various mandis. 

In Jaipur, Rajasthan, MUSTARD was sold at 5,950-5,975 rupees per 100 kg, up 25 rupees from Thursday. However, arrivals in Rajasthan were unchanged at 250,000 bags (1 bag = 50 kg), while those across the country were pegged at 500,000 bags. 

"Crushing of seeds is done in ample amounts during the festival season because mustard oil demand is more in this period. It has increased by 27% this month and around 950,000 tn of seeds were crushed in October compared to 750,000 tn in September," said Rupesh Pareek, a Jaipur-based mustard trader.

Currently, 7.1 mln tn mustard has been crushed by oil millers and 9.0 mln tn has arrived in the various spot markets of India, according to a report by Marudhar Trading Agency, Jaipur, Rajasthan.

At several spot markets in Madhya Pradesh, SOYBEAN was sold at 4,400-5,050 rupees per 100 kg, down by 200 rupees from Thursday. Arrivals all over India were 830,000 bags.

"The arrivals of soybeans in the market today, which are moist and dirty, led to a decrease in prices in various spot markets of Madhya Pradesh. The moist soybeans lead to heavy weighted bags and are priced lower. As moist soybeans deteriorate in a very short period, farmers are bringing more stock," said Durga Prasad Yaduvanshi, a Madhya Pradesh-based soybean farmer.

In Indore, soybeans were sold at 4,400-4,900 rupees per 100 kg, down by 200 rupees from Thursday and arrivals were 9,000 bags. 

In Mandsaur and Bina markets, soybean was priced at 4,500-4,900 rupees and arrivals were 7,000 bags. 

In markets of Neemuch, Madhya Pradesh, prices of soybean seeds were 4,650-4,850 rupees per 100 kg and arrivals were 10,000 bags. End

Edited by Deepshikha Bhardwaj

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