Domestic oilseeds rally as global edible oil prices surge

Edible oilseed prices traded mixed across major spot markets on Monday, with mustard seed prices rising in Jaipur due to firm global edible oil rates and stronger domestic demand. 

 Traders said higher imported edible oil prices, driven by geopolitical tensions in West Asia, continued to support local oilseed markets. 

In Rajasthan’s Jaipur market, mustard seed prices increased by ₹200 to ₹7,650-₹7,700 per 100 kg, tracking gains in global edible oil markets. 

  Traders at Marudhar Trading Agency said arrivals across the country rose to 900,000 bags from 850,000 bags a day earlier.

  However, mustard seed prices in Kota remained unchanged at ₹7,350 per 100 kg after witnessing gains in the previous session.   Traders said domestic millers continued preferring local oilseeds over costly imported edible oils for crushing purposes. Arrivals in Kota rose by 1,000 bags to 18,000 bags.   Soybean prices showed mixed trends across markets. 

   In Ratlam, Madhya Pradesh, soybean prices rose by ₹1,000 amid stronger demand and higher imported edible oil prices. Arrivals increased to 3,500 bags from 2,500 bags in the previous session.  On the other hand, soybean prices in Kota declined by ₹350 per 100 kg as higher arrivals and limited buying at elevated price levels weighed on the market. Arrivals in Kota increased to 14,000 bags from 10,000 bags earlier. Groundnut prices in Ratlam also moved higher, rising by ₹100 due to steady demand.  Arrivals were reported at 3,300 bags, marginally higher from the previous day, traders said.

—Informist