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Informist, Friday, Apr. 25, 2025

By J. Navya Sruthi

MUMBAI – Prices of mustard, soybean, and groundnut were steady on Friday due to a lack of fresh cues, traders said. Domestic prices of groundnut and soybean are continuing to trade below the minimum support prices because of subdued demand, traders said.   

Prices of MUSTARD seed at Jaipur in Rajasthan remained steady from the previous day at INR 6,325-INR 6,350 per 100 kg, according to Marudhar Trading Agency. Arrivals across India were down by 25,000 bags at 675,000 bags (1 bag = 50 kg).

"Very small quantity of new mustard is purchased by the government till now," said Mahesh Sameriya, a local trader from Rajasthan. Procurement started around Apr. 15, but the improvement has been slow in prices, which rose by only INR 25-INR 75. If the procurement continues at this pace with increasing pressure of new crop arrivals, mustard may hardly see any support in the near to medium term, he said.

So far, the government has bought 865 tonnes of mustard, or 0.1% of the total 1.5 million tonnes it aims to buy during the 2025-26 rabi marketing season under the price support scheme. The minimum support price of mustard for the current season is INR 5,950 per 100 kg. 

GROUNDNUT prices at Gondal in Gujarat were steady from Thursday at INR 4,100-INR 5,650 per 100 kg, said Ashok Virvani, a local trader. "With increasing temperatures in Gujarat, the summer crop of groundnut may get harmed, which may lead to support in prices of the oilseed in the long term," Virvani said. According to data released by the agriculture ministry, the summer crop area under groundnut so far rose to 431,000 hectares from 411,000 hectares a year ago.

However, prices may not see enough support in the near-to-medium term due to poor demand for groundnut and groundnut oil both domestically and internationally, Virvani 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. 

SOYBEAN prices in Indore were steady at INR 4,000-INR 4,400 per 100 kilogram, said Shailendra Soni, a local trader. Arrivals were steady at 4,000 bags (1 bag = 90 kg), he said.

"With the increasing imports of soyoil every month and huge stocks in domestic markets due to the government selling, soybean prices may remain under pressure in the medium term," Soni said. Prices are still below the minimum support price of INR 4,982, he added.

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

End

With inputs from Anjali Lavania

Edited by Saji George Titus

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