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Informist, Monday, Apr. 28, 2025

By Anjali Lavania 

MUMBAI – Prices of mustard and soybean fell while those of groundnut rose slightly in key markets on Monday, according to traders. Increasing arrivals of mustard along with poor rapeseed meal demand globally is weighing on prices, they said. 

Prices of MUSTARD seed in Jaipur, Rajasthan, were down by INR 50 at INR 6,250-INR 6,275 per 100 kg from Saturday, according to Marudhar Trading Agency. Arrivals across India were up by 75,000 bags at 625,000 bags (1 bag = 50 kg).

"Increasing arrivals, along with sluggish procurement by the government are weighing down on mustard prices," 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, mustard may hardly see any support in the near to medium term, he said.

As of Apr. 21, the National Agricultural Cooperative Marketing Federation of India has procured 179,883.1 tonnes of mustard from Assam, Haryana, Madhya Pradesh, Rajasthan, Uttar Pradesh, Gujarat and Chhattisgarh. It procured the oilseed at the minimum support price of INR 5,950 per 100 kg. The government aims to procure a total of 1.5 million tonnes during the 2024-25 (Jul-Jun) rabi season.

"The rapeseed meal export plummeted due to lack of demand from destinations," SEA said in its monthly release. India exported 1.87 million tonnes of rapeseed meal in Apr-Mar, lower than 2.21 million tonnes a year ago, the release said. 

GROUNDNUT prices at Gondal in Gujarat rose by INR 200 to INR 4,300-INR 5,650 per 100 kg, said Ashok Virvani, a local trader. "With quality arrivals on Monday after a very long time, groundnut prices saw some improvement during the starting of the week," he said. However, this improvement is expected to be short lived as most of the best quality arrivals have been procured by the government, he added. 

SOYBEAN prices in Indore fell by INR 50 to 3,950-INR 4,350 per 100 kilogram, said Narendra Porwal, a local trader. Arrivals increased by 200 bags to 4,200 bags (1 bag = 90 kg), he said. High imports are leading to less buying by millers as domestic soyoil demand is poor, he added. Moreover, with poor demand and abundant supply in most of the local markets, prices are not getting enough support, he said. 

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

Edited by Deepshikha Bhardwaj

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