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Informist, Monday, Mar. 17, 2025

By Anjali Lavania

MUMBAI – Prices of mustard seed and groundnut fell in key spot markets in the country on Monday, while soybean were steady, traders said. Mustard prices fell on higher arrivals, while groundnut declined muted export demand and expectations of higher production this year, they said.

MUSTARD seed prices in Jaipur in Rajasthan fell by INR 100 to 6,000-INR 6,025 per 100 kilograms, a trader from the Marudhar Trading Agency said. All-India mustard arrivals rose to 1.4 million tonnes (1 bag = 50 kg), according to the agency. Mustard arrivals were around 400,000 tonnes on Friday. "Mustard prices may fall further due to increasing arrivals of new rabi crop," he said. Though there was a temporary rise in prices near Holi, they have again fallen, he said. In the medium term, prices may get some support from the government procurement, he said. 

The National Agricultural Cooperative Marketing Federation of India has procured 12.45 tonnes of mustard in Assam as of Wednesday. The total sanctioned quantity of mustard is 1.5 million tonnes. The Centre has allowed procurement in Assam, Gujarat, Madhya Pradesh, Haryana, Chhattisgarh, and Uttar Pradesh at the minimum support price of INR 5,950 per 100 kg during the rabi season. Mustard procurement has only started in Assam and will start from March end in other states.

SOYBEAN prices in Indore in Madhya Pradesh were steady at INR 3,800-INR 4,100 per 100 kg, with arrivals increasing by 1,000 bags to 4,000 bags (1 bag = 90 kg), Narendra Porwal, a local trader, said. "Factors like increasing imports of soyoil and sluggish demand for Indian soymeal in domestic and global markets are weighing down on soybean prices," Porwal said. Crude soyoil imports during February increased to 283,737 tonnes from 172,936 tonnes a year ago, according to the Solvent Extractors' Association of India. Crude soyoil imports during Nov-Feb rose to 1.6 million tonnes from 664,339 tonnes in the corresponding period of last year. 

GROUNDNUT prices in Gondal in Gujarat fell by INR 50 to INR 4,550-INR 6,100 per 100 kg, said Ashok Virvani, a local trader. "Poor export demand and bumper crop estimates may lead to a further fall in prices," said Virvani. The production of kharif groundnut is estimated at 10.4 million tonnes compared to 8.7 million tonnes a year ago, according to the government's second advance estimate for 2024-25 (Jul-Jun).

End

Edited by Saji George Titus

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