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Informist, Wednesday, Mar. 5, 2025

By Anjali Lavania

MUMBAI – Prices of mustard and soybean were steady in key markets of Jaipur, Rajasthan and Indore, Madhya Pradesh, respectively, said traders. Groundnut prices fell in Gondal, Gujarat, due to weak export demand, they added. 

MUSTARD seed prices were steady and were in the range of INR 6,100-INR 6,125 per 100 kg in Jaipur, a trader from Marudhar Trading Agency said. "Increasing arrivals of new crops after harvest season is putting a pressure on mustard prices," Mahesh Sameriya, a local trader, said. Temperory demand is however, possible during Holi, he added. Also, prices may improve in mid-March when the government agencies start procuring the new crop, he said. Mustard arrivals all over India were unchanged at 750,000 bags (1 bag = 50 kg), according to data by the agency. 

SOYBEAN prices were steady at INR 3,650-INR 4,100 per 100 kg in Indore, with arrivals being unchanged at 4,000 bags (1 bag = 90 kg), Shailendra Soni, a local trader, said. "Sluggish demand for Indian soybean and soymeal both globally and domestically is affecting the oilseed prices in a negative way," he added. 

"National Agricultural Cooperative Marketing Federation of India has purchased around 1.5 million tonnes of soybean so far. The agency has stocked the seeds, now they are wanting to sell, they are not finding any good buyers," said Sandeep Bajoria, chief executive officer at Sunvin Group. Also, rapeseed harvest is coming, so they need to get ready to procure that also, he added. There is a supply glut of soybean in domestic markets, he said. 

GROUNDNUT prices in the Gondal market were down INR 100 at INR 4,750-INR 6,150 per 100 kg, said Ashok Virvani, a local trader. "Due to weak export demand and cautious buying by millers, prices of groundnut are declining currently," he said. If this fall in prices continues in the long term, farmers will not be interested in sowing the oilseed next year, he said.  

End

Edited by Tanima Banerjee

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