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Informist, Friday, Apr. 4, 2025

By J. Navya Sruthi

MUMBAI – Mustard prices fell Friday as arrivals of the oilseed have increased in local markets, traders said. Prices of soybean rose from Thursday as arrivals fell. However, groundnut prices remained steady from the previous day, traders said. 

Prices of MUSTARD were down by INR 75 at INR 6,300-INR 6,325 per 100 kg due to rising arrivals, traders said. On Friday, though arrivals were nearly unchanged from Thursday at 1.10 million tonnes, according to Marudhar Trading Agency, a general increase in supply has weighed on prices. 

"Mustard prices are under continuous pressure due to increasing arrivals during the harvesting season," said Mahesh Sameriya, a trader from Rajasthan. However, most of the market participants are hopeful that prices may gain some support from government procurement, he said. Prices have been hovering around INR 6,300-INR 6,400 per 100 kg since two weeks, he said.

Mustard procurement has started in Assam, but it is yet to start in most states. In Rajasthan, procurement will start from Apr 10, he said. The government has set the minimum support price of mustard at INR 5,950 per 100 kg for 2024-25 (Apr-Mar). As of Mar. 24, the National Agricultural Cooperative Marketing Federation procured 83 tonnes against the sanctioned quantity of 62,774 tonnes of mustard in Assam, while the all India procurement stands at 864.7 tonnes. The agency aims to buy 1.5 million tonnes during 2024-25 (Apr-Mar). 

Prices of SOYBEAN were up at INR 3,950-INR 4,400 per 100 kg from INR 3,800-INR 4,050 per 100 kg on Thursday due to low arrivals, a trader from Madhya Pradesh, Shailendra Soni, said. Arrivals were at 2,500 bags (1 bag = 90 kg), down from 4,500 bags the previous day, he said. However, the trader said the rise in soybean prices is temporary. 

"Soybean prices are under pressure due to excess supply of the oilseed in various local markets across India and due to sluggish demand," Soni said. Also, high imports of soyoil every month, hence millers are also less interested in buying the oilseed in bulk, he added.

GROUNDNUT prices in Gondal, Gujarat, were steady at INR 4,400-INR 5,950 per 100 kg, said Ashok Virvani, a local trader. "Due to less demand of groundnut and ground oil both domestically and internationally, along with poor export demand, farmers in Gujarat aren't satisfied with the returns they are getting and hence it is believed they may shift to other more profitable crops during next year," Virvani said.

Also government has procured most of the good quality groundnut and now mandis are receiving poor quality seeds with high moisture and dirt content, which is not usually preferred by most of the  buyers, Virvani added.

End

With inputs from Anjali Lavania

Edited by Deepshikha Bhardwaj

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