More Stories

Informist, Tuesday, Mar. 18, 2025

By Anjali Lavania

MUMBAI – Prices of mustard seed, groundnut, and soybean were steady Tuesday, traders said. Mustard prices are expected to fall in the long-term due to rising arrivals of the new crop, they said.

MUSTARD seed prices in Jaipur, Rajasthan, were steady at INR 6,000-INR 6,025 per 100 kg, a trader from Marudhar Trading Agency said. All-India mustard arrivals rose to 1.43 million tonnes (1 bag = 50 kg), according to the agency. Arrivals on Monday were around 1.40 million tonnes. "Mustard prices may fall in long-term due to increasing arrivals of the new rabi crop," the trader said. Moreover, sluggish demand for Indian rapeseed meal in the global markets is weighing on mustard seed prices, he added.

India exported 1.68 million tonnes of rapeseed meal in Apr-Feb, lower than 2.04 million tonnes in the year ago period. Exports of mustard meal in February fell to 140,038 tonnes from 144,372 tonnes a year ago, according to data released by The Solvent Extractors' Association of India on Tuesday. Bangladesh, South Korea, Thailand, and Vietnam are the major importers of rapeseed meal.

SOYBEAN prices in Indore, Madhya Pradesh, were steady at INR 3,800-INR 4,100 per 100 kg, with arrivals decreasing by 1,500-2,500 bags (1 bag = 90 kg), Shailendra Soni, a local trader, said. Some good varieties of soybean with less moisture content were sold at INR 4,200-INR 4,300 per 100 kg, which is still below the minimum support price of INR 4,892 per 100 kg. "There is sluggish demand for Indian soymeal both domestically and internationally, so millers are not ready to buy soybean in bulk for crushing as it produces around 80% meal and 20% oil," he said.

Export of soymeal in the first five months of the oil year 2024-25 (Oct-Sept) was 1.03 million tonnes, compared with 1.35 million tonnes, down 23.7%, according to SEA data.

GROUNDNUT prices in Gondal, Gujarat, were also steady at INR 4,550-INR 6,100 per 100 kg, said Ashok Virvani, a local trader. "Almost all the best varieties of groundnut are procured by the government," he said. Farmers are now left with poor varieties of groundnut which are small in size, have high moisture content and are generally not clean. These varieties are not preferred by millers, he said. In the long-term, groundnut prices may fall due to a bumper crop estimate, he added. 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 Nishant Maher

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

Informist Media Tel +91 (22) 6985-4000 

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2025. All rights reserved.