India Edible Oil
Soybean dn; groundnut up on better export demand from China
This story was originally published at 18:57 IST on 2 May 2025
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By Anjali Lavania
MUMBAI – Prices of mustard and groundnut rose slightly in Jaipur and Gondal, respectively, while those of soybean fell in Indore due to sluggish demand Friday, according to traders.
Prices of MUSTARD seed in Jaipur, Rajasthan, rose by INR 50 to INR 6,300-INR 6,325 per 100 kg, according to Marudhar Trading Agency. Arrivals across India were steady at 425,000 bags (1 bag = 50 kg).
"This is a temporary improvement and will be short-lived. There is increasing pressure of arrivals in Rajasthan, Uttar Pradesh, Haryana and Madhya Pradesh," said Mahesh Sameriya, a local trader from Rajasthan. In June, some improvement in prices is expected due to fall in arrivals and more procurement by the government, he added.
Overall, India mustard seed arrivals rose to 1.5 million tonnes in April compared to 1.45 million tonnes the previous month, according to Marudhar Trading Agency.
As of Apr. 22, The National Agricultural Cooperative Marketing Federation of India 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.
GROUNDNUT prices, including those of poor, medium and best varieties, rose by INR 100 to INR 4,400-INR 5,750 per 100 kg in Gondal, Gujarat, said Ashok Virvani, a local trader. A slight rise in price is being witnessed due to improvement in export demand. However, due to high production, groundnut prices are under pressure, he added.
China has recently started buying crushed groundnut and some amount of groundnut oil from India, which can support groundnut prices in long term, said Neharu Kher, a groundnut exporter based in Gujarat.
Groundnut production is seen at 27.63 million tonnes in 2024-25 (Jul-Jun), an increase of 1.76 million tonnes from 2023-24, according to data shared by Rahul Chauhan, director at iGrain India.
SOYBEAN prices in Indore, Madhya Pradesh, fell by INR 50 to 4,050-INR 4,300 per 100 kg, said Shailendra Soni, a local trader. Arrivals decreased by 600 bags to 1,600 bags (1 bag = 90 kg).
Due to growing presence of cheaper alternatives such as distiller's dried grains with solubles as feed for livestock and poultry and high soyoil imports, prices are under pressure, said Narendra Porwal, a trader from Madhya Pradesh. Higher imports of soyoil are leading to reduced buying of domestic soybean by millers, he added.
India's crude soyoil imports are estimated to have risen to 373,264 tonnes in April, according to the Sunvin Group. Crude soyoil imports were at 355,358 tonnes in March, according to the Solvent Extractors' Association of India.
Most of the markets in Madhya Pradesh, including Indore, Ujjain, Ratlam, Rajgarh, Mandsaur, Shajapur, Vidisha, and Dewas were closed on Wednesday on account of Akshaya Tritiya, and on Thursday because of Labour Day, the trader said.
COMMODITY | MARKET | PRICE (INR/100 kg) | CHANGE (in INR) |
Mustard | Jaipur | 6,300-6,350 | 50 |
Soybean | Indore | 4,050-4,300 | (-)50 |
Groundnut | Gondal | 4,400-5,750 | 100 |
End
Edited by Vandana Hingorani
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