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Informist, Monday, Mar. 24, 2025

By Anjali Lavania

MUMBAI – Prices of mustard seed and soybean fell in Jaipur, and Indore, respectively, traders said. Spot prices of groundnut were not available in Gondal, Gujarat, as the markets were closed, they said.  

MUSTARD seed prices in Jaipur in Rajasthan fell by INR 25 to INR 6,050-INR 6,075 per 100 kg, a trader from Marudhar Trading Agency said. All-India mustard arrivals increased to 1.55 million tonnes, according to the agency. Mustard arrivals across the country were around 1.35 million tonnes on Saturday. "Mustard prices may fall further in the coming days due to increasing pressure of the new crop arrivals," he said. However, government procurement may give some support to the prices, he added. 

The National Agricultural Cooperative Marketing Federation procured 864.7 tonnes of mustard as of Thursday, or 0.06% of the total 1.5 million tonnes it aims to buy during the 2024-25 (Jul-Jun) rabi season under the price support scheme. The agency started its procurement of the oilseed only in Assam and Haryana, according to the data released on Friday. 

The procurement agency has purchased 83 tonnes against the sanctioned quantity of 62,774 tonnes of mustard in Assam and 781.7 tonnes in Haryana, against the total approved quantity of 336,238 tonnes. The government has set the minimum support price of mustard at INR 5,950 per 100 kg for 2024-25 (Apr-Mar). Procurement of the oilseed is yet to begin in Chhattisgarh, Madhya Pradesh, Gujarat, and Uttar Pradesh. 

SOYBEAN prices in Indore, Madhya Pradesh, were down by INR 50 at INR 3,750-INR 4,050 per 100 kg, with arrivals increasing by 500 bags to 3,000 bags (1 bag = 90 kg), said Narendra Porwal, a local trader. "Soybean prices have been falling continuously because of a dip in demand and huge availability of the oilseed in local markets," Porwal added. Further, because of the fall in domestic and international demand for Indian soymeal, soybean prices may remain under pressure in the long-term, he said.

GROUNDNUT prices in Gondal, Gujarat, were unavailable as the market was closed, said Dilipbhai Ramani, a local trader. Most spot markets such as Rajkot, Gondal, Junagadh and Saurashtra were closed, he said. Most mandis in Gujarat will remain shut for closing of account books at the end of the financial year, he said. Markets will resume activities on Apr. 1, he said. 

End

Edited by Akul Nishant Akhoury

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