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Informist, Tuesday, Mar. 11, 2025

By Anjali Lavania

MUMBAI – Prices of mustard seed, groundnut, and soybean fell in key spot markets across the country on Tuesday, traders said. Soybean prices fell on poor demand for soymeal and higher soyoil imports, while mustard fell on increasing arrivals of the new crop, they said.

MUSTARD seed prices in Jaipur in Rajasthan fell INR 100 to INR 6,000-INR 6,025 per 100 kilograms, a trader from the Marudhar Trading Agency said. All-India mustard arrivals increased to 1.2 million bags (1 bag = 50 kg) from 1.1 million bags on Monday, according to the agency. 

Mustard prices in Kota in Rajasthan were down by INR 50 to INR 5,900 per 100 kg, with arrivals being unchanged at 18,000 bags, Mahesh Sameriya, a trader from the state, said. "New mustard crop arrivals are increasing day by day, due to which prices are under pressure," he said. Procurement of the new crop may start from Mar. 15, he said. 

SOYBEAN prices in Indore in Madhya Pradesh fell INR 20 to INR 3,480-INR 4,100 per 100 kg, with arrivals increasing by 100 bags to 4,500 bags (1 bag = 90 kg), Narendra Porwal, a local trader, said. "If this fall in price of soybean continues in the long-term, farmers may decide to switch to other crops next year as they are not getting enough returns," he said. 

Soybean prices in Kota declined by INR 21 to INR 4,100 per 100 kg, with arrivals unchanged at 10,000 bags, said Sameriya. 

"The increased use of distillers' dried grains with solubles in place of soymeal in poultry feed continues to affect the demand for soymeal and adversely impact the industry," the Soybean Processors Association of India said in a release on Tuesday. Looking at the reduction in demand of soymeal in the local market, the association has reduced consumption by 300,000 tonnes to 6.3 million tonnes, it said. Soybean arrivals in spot markets across the country were at 850,000 tonnes in February, up from 800,000 tonnes a year ago, SOPA said. 

Also, increasing imports is affecting the domestic oilseed prices, Porwal said. Crude soyoil imports during February increased to 283,737 tonnes from 172,936 tonnes a year ago, data released Tuesday by the Solvent Extractors' Association of India showed. Crude soyoil imports during Nov-Feb rose to 1.6 million tonnes from 664,339 tonnes in the same period last year, according to the data. 

Imports of refined soybean oil from Nepal have increased, taking advantage of the duty-free access, SEA said. 

GROUNDNUT prices in Gondal in Gujarat fell INR 50 to INR 4,600-INR 6,100 per 100 kg, said Ashok Virvani, a local trader. "Poor export demand and poor quality arrivals in markets are not supporting the groundnut prices," he said. The production of kharif groundnut is estimated at 10.4 million tonnes compared to 8.7 million tonnes a year ago, according to the second advance estimate for 2024-25 (Jul-Jun) released by the government on Monday.

End

Edited by Saji George Titus

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