India Edible Oil
Mustard up; soybean dn on huge supply in domestic markets
This story was originally published at 19:52 IST on 6 March 2025
Register to read our real-time news.Informist, Thursday, Mar. 6, 2025
By Anjali Lavania
MUMBAI – Prices of mustard rose slightly in Jaipur, while those of soybean and groundnut fell in Indore and Gondal, respectively, said traders. The glut in domestic supplies has affected most of the oilseed prices negatively, especially soybean, they added.
MUSTARD seed prices rose slightly by INR 50 to INR 6,150-INR 6,175 per 100 kg in Jaipur, Rajasthan, a trader from Marudhar Trading Agency said. Mustard arrivals all over India increased by 50,000 bags to 800,000 bags (1 bag = 50 kg), according to data by the agency. "Slight improvement is there due to the upcoming festival like Holi," he said. After the festival, the government will start purchasing the new mustard crop, probably from Mar.15, which may further support the oilseed prices, he added.
SOYBEAN prices were were down by INR 50 to INR 3,600-INR 4,100 per 100 kg in Indore, Madhya Pradesh, with arrivals being increased by 200 bags to 4,200 bags (1 bag = 90 kg), Narendra Porwal, a local trader, said. The abundance of soybean in domestic markets along with poor demand has led to fall in prices of the oilseed currently, he added.
"Weak demand for soymeal and soyoil has led many processing plants to halt purchases," said Rahul Chauhan, director of Igrain India.
GROUNDNUT prices in the Gondal market were down INR 50 at INR 4,700-INR 6,100 per 100 kg, said Ashok Virvani, a local trader. "Exporters are not interested in buying groundnuts and groundnut oil from India due to the availability of poor quality of various varieties," he said. "One of the groundnut godowns of Food Corporation of India in Surendranagar caught fire on Thursday and it is estimated that there has been a loss of crores of rupees," he added. Groundnuts in the godown were of good quality purchased by government at minimum support price of INR 6,783 per 100 kg.
COMMODITY | MARKET | PRICE (INR/100 kg) | CHANGE (in INR) |
Mustard | Jaipur | 6,150-6,175 | 50 |
Soybean | Indore | 3,600-4,100 | (-)50 |
Groundnut | Gondal | 4,700-6,100 | (-)50 |
End
Edited by Deepshikha Bhardwaj
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