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Informist, Wednesday, Apr. 9, 2025

By Afra Abubacker

NEW DELHI – Mustard and soybean prices rose on Wednesday due to improved demand, traders said. The government is expected to start mustard procurement from Thursday, they added. Groundnut rates fell amid tepid demand for poor-quality arrivals. 

Prices of MUSTARD were up by INR 75 at INR 6,375-INR 6,400 per 100 kg, according to Marudhar Trading Agency. Arrivals across India were unchanged at 800,000 bags (1 bag = 50 kg). "Temporary recovery is seen this week. But it will be short-lived due to increasing arrivals of new mustard crop in various mandis," said Mahesh Sameriya, a local trader from Rajasthan.

However, with China's improving demand for Indian mustard meal, prices of mustard can improve further in the medium term, he added. Procurement of new mustard seeds is expected to start from Thursday by the government, Sameriya said.

SOYBEAN prices in Indore were up INR 300 at INR 4,100-INR 4,450 per 100 kg amid improved demand for good quality seed arrivals. Arrivals were up by 400 bags at 3,400 bags (1 bag = 90 kg), he added. "Soybean prices were falling last week. However, prices are likely to improve this week due to quality seed arrivals," said Narendra Porwal, a trader from Madhya Pradesh. 

However, this gain in soybean prices will be short-lived amid excess supply, large soyoil imports, and sluggish demand for Indian soymeal in global market, he added.

GROUNDNUT prices in Gondal, Gujarat, were down INR 50 at INR 4,250-INR 5,800 per 100 kg, said Ashok Virvani, a local trader. "Groundnut has not been performing well for a long time due to poor domestic and international demand and higher production," said Ashok Virvani. Additionally, the government has procured the most of good quality groundnut.  

"Farmers are left with poor quality crops, and no buyer is interested in them," Virvani said. For the next 6-8 months, Virvani doesn't see much improvement taking place in groundnut prices.

End

With inputs from Anjali Lavania

Edited by Akul Nishant Akhoury

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