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Informist, Tuesday, Apr. 15, 2025

By Anjali Lavania

MUMBAI – Mustard and soybean prices fell Tuesday in Jaipur and Indore, respectively, traders said. Similarly, groundnut prices fell in Gondal in Gujarat due to the poor quality of arrivals, they said. 

Prices of MUSTARD seed were down by INR 25 at INR 6,375-INR 6,400 per 100 kg in Jaipur, Rajasthan, according to Marudhar Trading Agency. Arrivals across India were 725,000 bags (1 bag = 50 kg), up 500,000 bags from Monday.

"Mustard prices were affected on Tuesday due to high arrivals in various spot markets," said Mahesh Sameriya, a trader based in Rajasthan. Some markets like Kota, Patan, and Bhiwani were closed Monday for Dr. Babasaheb Ambedkar's birth anniversary, which resulted in higher arrivals Tuesday, he said. "With the government procurement, which started from Monday, mustard prices are expected to gain some support in the medium-to-long term," he said.

Indrajit Paul, head of research at Agrocorp International, said Chinese demand for Indian mustard meal could lend further support to prices in the medium term.

SOYBEAN prices in Indore, Madhya Pradesh, were down by INR 50 at INR 4,250-INR 4,634 per 100 kg with arrivals increasing by 200 bags to 3,700 bags (1 bag = 90 kg), said Narendra Porwal, a trader from the state. 

Factors such as huge imports of soyoil from Nepal, ample domestic supply, and sluggish demand for Indian soymeal in the global market may further depress soybean prices in the medium term, Porwal said. 

"Edible oil imports from Nepal have risen sharply to 180,000 tonnes between January and March, up from 125,000 tonnes imported in the entire calendar year 2024," the Indian Vegetable Oil Producers' Association said in a release Monday.

GROUNDNUT prices in Gondal, Gujarat, were down by INR 50 at INR 4,200-INR 5,750 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 buyers do not prefer, and weak domestic and international demand," he said. Groundnuts with less moisture content were trading in the range of INR 4,500-INR 6,300 per 100 kg in mandis in Saurashtra, he said. 

"The overall market sentiment for groundnut remains bearish," said Agrocorp International's Paul. "Most of the good-quality produce has already been absorbed through government procurement, leaving behind lower-quality stock with limited buyer interest."

End

Edited by Rajeev Pai

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