More Stories

Informist, Thursday, Jan. 30, 2025

By Anjali Lavania

MUMBAI – Prices of mustard fell while those of groundnut and soybean were steady in major markets, traders said. According to market participants, soybean prices are expected to fall in the long run due to an increase in soyoil imports.  

Prices of SOYBEAN in Indore, Madhya Pradesh, were steady at INR 3,800-INR 4,200 per 100 kg, said Shailendra Soni, a local trader. "Abundance of soyoil imports are affecting soybean prices negatively," he said. Crude soyoil imports during December increased to 420,651 tonnes from 152,650 tonnes a year ago. Crude soyoil imports during Nov-Dec, rose to 828,299 tonnes from 302,544 tonnes a year ago, according to data from the Solvent Extractors' Association of India. 

According to Indrajit Paul, head of research at Agro International, government agencies like the National Agricultural Cooperative Marketing Federation of India and the National Co-operative Consumers' Federation of India Ltd. purchased a record 1.63 million tonnes till Jan. 24, which can reach 1.7 million tonnes too. 

"Despite a record procurement of nearly 1.7 million tonnes at minimum support price, soybean prices remain stubbornly below support levels, hovering around INR 4,200- INR 4,250 per 100 kg. With NAFED expected to offload stocks from Mar-Apr, market dynamics could shift. However, the bigger pressure point is the feed industry's shift from soybean meal to dried distillers grains solubles or DDGS, with maize DDGS production projected to surge 81% on year. This demand rationing could keep soymeal under pressure, capping any major price recovery," Paul said. 

GROUNDNUT prices in Gondal, Gujarat, were steady at INR 5,250-INR 6,600 per 100 kg, said Ashok Virvani, a local trader. "Due to expectations of bumper production this year, groundnut prices are expected to fall in the long-term," Virvani said. Groundnut production for the 2024-25 season is projected to reach a record 10.36 million tonnes, a significant increase from 8.67 million tonnes last year, according to the Department of Agriculture and Farmers Welfare.

Prices of MUSTARD were down by INR 75 to 6,050-INR 6,075 per 100 kg, according to Marudhar Trading Agency. Arrivals in Jaipur were unchanged at 75,000 bags. Similarly, arrivals across the country were the same at 165,000 bags, the agency said. "In 2025, some temporary recovery is possible, but prices may again fall, break support and approach INR 6,000 per kg as the harvest season nears," said Soni. Some new mustard crops have started arriving in mandis in Rajasthan, said Mahesh Sameriya, a trader from the state

End

Edited by Akul Nishant Akhoury

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.