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Informist, Wednesday, Mar. 26, 2025

By Anjali Lavania

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

MUSTARD seed prices in Jaipur were steady at INR 6,100-INR 6,125 per 100 kg, a trader from Marudhar Trading Agency said. All-India mustard arrivals fell to 1.33 million tonnes, according to the agency. Mustard arrivals across the country were around 1.40 million tonnes Tuesday.

"The increasing arrivals in most spot markets across India along with sluggish rapeseed meal demand domestically and globally may lead to a fall in prices in the long term," said Mahesh Sameriya, a local trader from Rajasthan. India exported 1.68 million tonnes of rapeseed meal in Apr-Feb, lower than 2.04 million tonnes a year ago. Similarly, in February, exports of mustard meal fell to 140,038 tonnes from 144,372 tonnes a year ago, according to the data by the Solvent Extractors' Association of India. Bangladesh, South Korea, Thailand, and Vietnam are the major importers of rapeseed meal. 

In the coming days, government procurement, which will begin from Apr. 10, can support prices in Rajasthan, he added. Procurement of the new mustard crop by government agencies has begun in Assam and Haryana, while it has to start in Chhattisgarh, Madhya Pradesh, Gujarat, and Uttar Pradesh, Sameriya added. 

SOYBEAN prices in Indore, Madhya Pradesh, were steady at INR 3,800-INR 4,050 per 100 kg, with arrivals increasing by 500 bags to 2,500 bags (1 bag = 90 kg), said Narendra Porwal, a local trader. "Due to factors like presence of excess soybean in domestic markets and poor demand for Indian soymeal in global markets, prices of the oilseed are not improving," Porwal said. Moreover, soymeal is getting replaced by distiller's dried grains with solubles, widely known as DDGS or animal feed, lowering down the demand for soybean, he said. Distilled dried grain with solubles is a cheaper ethanol byproduct which is preferred by the feed industry for livestock and aquaculture.

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 accounts at the end of the financial year, he said. Markets will resume trade on Tuesday, he said. 

End

Edited by Nishant Maher

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