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Informist, Monday, Apr. 21, 2025

By J. Navya Sruthi

MUMBAI – Groundnut prices fell Monday owing to low quality arrivals in domestic markets, traders said. They expect groundnut prices to remain low in the long term because of higher production and low demand. Prices of mustard seed and soybean also fell on higher supply, traders said.  

GROUNDNUT prices in Gondal, Gujarat, were down by INR 200 at INR 4,000-INR 5,550 per 100 kg, said local trader Ashok Virvani. "There are negligible quality arrivals in almost every mandi of Gujarat, including Saurashtra and Rajkot," Virvani said. Most of the good quality groundnuts are procured by government, he said. "No major improvement is expected in the long term in groundnut prices because of high production this year and poor domestic and international demand," he said.

Groundnut prices have been in this range, which is below the minimum support price of INR 6,783 per 100 kg, for more than a month. The government has bought 70.5% of the total 2.05 million tonnes, or 1.40 million tonnes, of the groundnut grown during the kharif season in crop year 2024-25 (Jul-Jun).

Prices of MUSTARD seed were down INR 25 at INR 6,275-INR 6,300 per 100 kg in Jaipur, Rajasthan, according to Marudhar Trading Agency. Arrivals across India were at 750,000 bags (1 bag = 50 kg), up 200,000 bags from Saturday. "Increasing arrivals during April and May have put pressure on the oilseed prices," said Mahesh Sameriya, a trader from Rajasthan. He expects a rebound in mustard prices from June.

The government has started buying mustard in Haryana and Rajasthan at the minimum support price of INR 5,950 per 100 kg, Sameriya said. So far, the government has bought 864.7 tonnes of mustard, or 0.06% of the total 1.5 million tonnes it aims to buy during the rabi marketing season 2025-26 (Apr-Mar) under the price support scheme.

SOYBEAN prices in Indore, Madhya Pradesh, were down INR 50 at INR 4,300-INR 4,600 per 100 kg, said Shailendra Soni, a local trader. "Abundant stock in the domestic markets along with less demand for Indian soymeal in global markets are affecting soybean prices negatively," said Soni. There will be no aggressive selling by the government this time in markets, as it is ensuring that the prices should come close to or at the minimum support price, said a commodity analyst at a food and agriculture company, requesting anonymity.

End

With inputs from Anjali Lavania

Edited by Rajeev Pai

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