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India Edible Oil: Mustard, soybean up on high domestic demand

Informist, Thursday, Nov 3, 2022

 

By Tanya Rana

 

NEW DELHI – Prices of mustard in the benchmark market of Jaipur in Rajasthan, and soybean in Indore, Madhya Pradesh, rose today due to high demand from oil millers and crushers, traders said. 

 

* Prices of MUSTARD extended gains in the benchmark market of Jaipur due to a spike in demand from crushers and millers, said Rupesh Parekh, a trader with Marudhar Trading.

 

* In Jaipur, mustard seed was sold at 7,050-7,075 rupees per 100 kg, up 25 rupees from Wednesday. Arrivals were pegged at 350,000 bags, up 25,000 bags (1 bag = 84 kg) from the previous day.

 

* Arrivals are likely to be steady, but prices are expected to increase by 200 rupees in the next few days as there is huge demand for mustard in domestic markets, said Parekh.

 

* Prices of SOYBEAN rose in Indore on high domestic demand from oil millers, said N.K. Agarwal, a local trader.

 

* Today, soybean was sold at 4,500-5,500 rupees per 100 kg, up 100 rupees from Wednesday. Arrivals were pegged at 10,000 bags (1 bag = 100 kg) down 2,000 from Wednesday.

 

* Prices of the oilseed are seen in the range of 4,500-5,600 rupees per 100 kg next week as there is a surge in demand from crushers, millers, and stockists for better quality arrivals, Agarwal added.

 

End

 

Edited by Manisha Baxla 

 

 

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