India Edible Oil
Groundnut down; Rajasthan mkts shut on traders' protests
This story was originally published at 20:38 IST on 28 February 2025
Register to read our real-time news.Informist, Friday, Feb. 28, 2025
By Anjali Lavania
MUMBAI – Groundnut prices fell slightly in Gondal, Gujarat, on Friday, while prices of soybean were steady in Indore, Madhya Pradesh, traders said. Mustard prices were unavailable as markets in Rajasthan remained shut because of traders' protest, they added.
MUSTARD seed prices were unavailable as most mandis in Rajasthan were shut with traders and market participants continuing to protest against 'Krishi Kalyan Cess'.
"Rajasthan Food Products Trade Association has submitted a memorandum to the state government urging immediate action. Mandis like Bhamshah, Barmer, Bharatpur, Jaipur, Kota, and Sumerpur have been closed since Monday," said Mahesh Sameriya, a trader from the state.
In 2016, then Union finance minister Arun Jaitley had introduced the Krishi Kalyan Cess on most agricultural products and services. The tax came into force on Jun. 1, 2016. Revenue collected was intended for agricultural and rural development programmes. However, after the introduction of Goods and Services Tax on Jul. 1, 2017, the Krishi Kalyan Cess was abolished in most states.
"Protests have extended and most of the mandis in Rajasthan may reopen from Mar. 3," Sameriya said.
SOYBEAN prices were steady at INR 3,800-INR 4,250 per 100 kg in Indore, Shailendra Soni, a local trader, said, adding that arrivals were up by 300 bags at 4,400 bags (1 bag = 90 kg). "Sluggish soymeal exports is putting pressure on soybean prices," Soni said. There is abundant supply and poor demand, with soymeal being gradually replaced by distiller's dried grains with solubles or DDGS which is cheaper, he added.
DDGS is a by-product generated from the ethanol production process, which is considered a valuable feed ingredient in the food and industrial sectors.
GROUNDNUT prices in Gondal fell by INR 50 to INR 4,950-INR 6,350 per 100 kg, said Ashok Virvani, a local trader. "Poor quality arrivals on Friday, with high moisture content, affected the groundnut prices in a negative way," he said. Government procured most of the good quality groundnut and farmers also are not interested in selling in local markets because of lack of returns, he said.
COMMODITY | MARKET | PRICE (INR/100 kg) | CHANGE (in INR) |
Mustard | Jaipur | -- | -- |
Soybean | Indore | 3,800-4,250 | -- |
Groundnut | Gondal | 4,950-6,350 | (-)50 |
End
Edited by Ashish Shirke
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