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Informist, Wednesday, Mar. 12, 2025

By Anjali Lavania

MUMBAI – Prices of mustard seed rose in Jaipur while those of groundnut and soybean were steady in Gondal and Indore on Wednesday, traders said. Mustard prices may fall in the near-term due to increasing arrivals of new crop, they said.

MUSTARD seed prices in Jaipur in Rajasthan rose INR 100 to INR 6,100-INR 6,125 per 100 kilograms, a trader from the Marudhar Trading Agency said. All-India mustard arrivals were unchanged at 1.2 million bags (1 bag = 50 kg), according to the agency. "A temporary improvement in mustard prices is seen this week due to the upcoming festival like Holi," he said. However, this is a short-lived improvement and may not continue in the long-term due to pressure from increasing arrivals, he said. 

"The current MSP (minimum support price) for mustard is INR 5,950 per 100 kg. Mustard price already touched MSP and likely to go down with the arrival pressure. Government must gear up the National Agricultural Cooperative Marketing Federation of India Ltd., and other agencies to buy at the MSP to protect the farmers," the Solvent Extractors' Association of India quoted B.V. Mehta, executive director of the association, as saying in a release on Wednesday.

The country's mustard production in the 2024-25 rabi season was at 11.52 million tonnes, according to SEA. In 2023-24, India's mustard production was at an all-time high of 11.58 million tonnes.

However, mustard prices in Kota in Rajasthan were down by INR 50 to INR 5,850 per 100 kg, with arrivals also decreasing by 1,000 to 17,000 bags, Mahesh Sameriya, a trader from the state, said.

SOYBEAN prices in Indore in Madhya Pradesh were steady at INR 3,480-INR 4,100 per 100 kg, with arrivals being unchanged at 4,500 bags (1 bag = 90 kg), Narendra Porwal, a local trader, said. "Due to slow domestic and global demand for Indian soymeal, prices of soybean are under pressure and they may fall further in the long-term," he said. The increasing use of distillers' dried grains with solubles or DDGS as poultry feed is replacing soymeal gradually," he added. 

However, soybean prices in Kota increased by INR 100 to INR 4,200 per 100 kg, with arrivals increasing by 1,000 to 11,000 bags, said Sameriya. 

GROUNDNUT prices in Gondal in Gujarat were steady at INR 4,600-INR 6,100 per 100 kg, said Ashok Virvani, a local trader. "No improvement is expected in long-term as factors like poor export demand, bumper crop production and lack of good varieties are not supporting 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 Deepshikha Bhardwaj

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