India Edible Oil
Mixed; mustard up on lower arrivals, soybean down
This story was originally published at 19:21 IST on 20 February 2025
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By Pallavi Singhal
NEW DELHI – Prices of mustard seed rose Thursday owing to lower arrivals in domestic markets, while those of soybean fell on account of sluggish export demand, traders said. Prices of groundnut remained unchanged from Wednesday.
Prices of MUSTARD seed in Jaipur were up INR 50 at INR 6,300-INR 6,325 per 100 kg, Marudhar Trading Agency said. Arrivals in Rajasthan were down by 5,000 bags at 70,000 bags (1 bag = 50 kg), and those across India were up at 350,000 bags. On Thursday, arrivals of new mustard seed were 30,000 bags more than on Wednesday at 185,000 bags, traders said.
"Mustard demand is improving as millers are buying more due to upcoming festivals in March," said Mahesh Sameriya, a trader from Rajasthan. However, pressure from the increasing arrivals is limiting the rise in mustard prices, making prices hover around INR 6,200-INR 6,400 per 100 kg currently, he said.
GROUNDNUT prices at Gondal in Gujarat were steady at INR 5,300-INR 6,700 per 100 kg, said Ashok Virvani, a local trader. "With weak export demand and huge quantities of degraded quality arrivals, groundnut prices are expected to fall in the long term," Virvani said. Expectations of a bumper crop this year may also affect the prices of the oilseed negatively, he added. Groundnut production for the 2024-25 season is projected to reach a record 10.36 million tonnes, a significant rise from 8.67 million tonnes last year, according to the Department of Agriculture and Farmers Welfare.
SOYBEAN prices were down INR 50 at INR 3,650-INR 4,100 per 100 kg in Indore, Madhya Pradesh, Shailendra Soni, a local trader, said. Arrivals were up by 100 bags (1 bag = 90 kg) at 3,600 bags, Soni added.
"Domestic soybean prices are affected by sluggish demand and also by poor performance of Indian soymeal globally," Soni said. Exports of soymeal fell to 286,287 tonnes in January from 375,360 million tonnes a year ago, data released by The Solvent Extractors' Association of India showed.
COMMODITY | MARKET | PRICE (INR/100 kg) | CHANGE (in INR) |
Mustard | Jaipur | 6,300-6,325 | 50 |
Soybean | Indore | 3,650-4,100 | (-)50 |
Groundnut | Gondal | 5,300-6,700 | -- |
End
With inputs from Anjali Lavania
Edited by Rajeev Pai
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