More Stories

Informist, Friday, Jan. 10, 2025

By Anjali Lavania

MUMBAI – Prices of mustard seed rose slightly in Jaipur, while those of soybean and groundnut were steady in Indore, and Gondal, on Friday, traders said. Market participants expect groundnut prices to fall in the long-term on likelihood of huge production this year.

Prices of MUSTARD rose INR 25 to INR 6,500-INR 6,525 per 100 kg in the benchmark market of Jaipur, Rajasthan. Arrivals in the state were unchanged from Thursday at 75,000 bags (1 bag = 50 kg). Arrivals across the country were also steady at 180,000 bags, according to the Marudhar Trading Agency.

"Although mustard prices are above the minimum support price of INR 5,950 per 100 kg, they are increasing at a slower pace," said a trader on the condition of anonymity. In the near term, prices might not rise above INR 6,500-INR 6,600 per 100 kg, he said. In 2025, some temporary recovery is possible, but prices may again fall, break the support and approach INR 6,000 per 100 kg as the harvest season nears, he said.

"Mustard prices in Kota (Rajasthan) were stable at INR 5,900 per 100 kg with arrivals increasing by 500 bags to 4,000 bags," said Mahesh Sameriya, a local trader from Rajasthan.

SOYBEAN prices in the key market of Indore were steady at INR 4,200-INR 4,400 per 100 kg, said Narendra Porwal, a trader from Madhya Pradesh. Arrivals were up by 200 bags from Thursday to 2,000 bags (1 bag = 90 kg), he said.

"Soybean prices are likely to remain bearish and trade below the minimum support price of INR 4,892 per 100 kg, unless there is any downside in production in kharif 2025, which may support prices," said Indrajit Paul, head of research of Agrocorp International.

"Soybean prices in Kota, Rajasthan, were down by INR 200 to INR 4,150 per 100 kg with arrivals being the same at 10,000 bags," Sameriya said.

GROUNDNUT prices at Gondal in Gujarat were steady at INR 5,200-INR 6,650 per 100 kg, said Ashok Virvani, a Gujarat-based trader. "Due to weak export demand and huge production, prices are expected to fall in the long term," Virvani said. Groundnut varieties damaged by rain and high in moisture are generally not preferred by exporters, he said. During 2023-24 (Oct-Sept), India groundnut exports fell 5.8% to 687,000 tonnes, said Paul. The 2024-25 crop is expected to be a bumper one, with the Department of Agriculture and Farmers Welfare putting the first advance estimate for the season at 10.36 million tonnes compared with 8.67 million tonnes last year.

End

Edited by Deepshikha Bhardwaj

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 (22) 6985-4000 

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2025. All rights reserved.