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Informist, Friday, Apr. 11, 2025

By Anjali Lavania

MUMBAI – Mustard and soybean prices rose on Friday due to improved domestic demand in major markets, traders said. Groundnut prices were steady in Gondal in Gujarat, they added. 

Prices of MUSTARD were up by INR 50 at INR 6,425-INR 6,450 per 100 kg in Jaipur, Rajasthan, according to Marudhar Trading Agency. Arrivals across India were 625,000 bags (1 bag = 50 kg), up from 500,000 bags from Wednesday. "Mustard prices have seen some improvement in this week due good demand during the wedding season and also due to growing chinese demand for Indian mustard meal," said Mahesh Sameriya, a local trader from Rajasthan. 

"Mustard prices increased to INR 6,425 per 100 kg, marking a 2.8% rise over the week and 7.1% on the month, supported by improved domestic demand and expectations of imminent government procurement," said Indrajit Paul, head of research at Agrocorp International. "Procurement of new mustard seeds was expected to start from Thursday but it has not started. Market participants now expect that procurement will start from Apr. 15," Sameriya said.

SOYBEAN prices in Indore, Madhya Pradesh, were up INR 200 at INR 4,300-INR 4,634 per 100 kg with arrivals increasing slightly by 100 bags at 3,500 bags (1 bag = 90 kg), said Narendra Porwal, a trader from the state. 

"Soybean prices climbed to around INR 4,634 per 100 kg, posting a weekly rise of 4.2% and a notable 11.4% gain on the month," Paul said. However, this rebound may be short-lived, as ample domestic supply, large soyoil imports, and weak export demand for Indian soymeal could limit further price gains, he added. 

Crude soyoil imports during March increased to 355,358 tonnes from 218,604 tonnes a year ago, data released Friday by the Solvent Extractors' Association of India showed. Similarly, crude soyoil imports during Nov-Mar rose to 1.91 million tonnes from 882,943 tonnes same period last year, the association said.

GROUNDNUT prices in Gondal, Gujarat, were steady at INR 4,250-INR 5,800 per 100 kg, said Ashok Virvani, a local trader. "Prices of groundnut are under constant pressure due to lower-quality arrivals in mandis which most of the buyers do not prefer," he added. 

"Given the ample supply and subdued demand both domestically and internationally for groundnut, prices are expected to remain under pressure in the near to medium term," Paul said. 

End

Edited by Akul Nishant Akhoury

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