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Informist, Wednesday, May 7, 2025

By Anjali Lavania

MUMBAI – Prices of mustard and groundnut were steady in key spot markets in the country Wednesday, while soybean fell on sluggish demand and higher soyoil imports, traders said. Market participants do not expect any major rise in prices of most oilseeds due to subdued demand and higher supply. 

Prices of MUSTARD seed at Jaipur in Rajasthan were steady at INR 6,225-INR 6,250 per 100 kg, according to Marudhar Trading Agency. Arrivals of mustard across India were steady at 450,000 bags (1 bag = 50 kg).

"No major improvement in mustard prices is seen this month due to higher arrivals," said Mahesh Sameriya, a trader from Rajasthan. Moreover, there is sluggish demand from the oil millers, which is weighing down on mustard prices, he said. 

Mustard prices at Kota in Rajasthan were steady at INR 6,100 per 100 kg. Arrivals were up 2,000 bags to 22,000 bags (1 bag = 90 kg), said Sameriya. 

GROUNDNUT prices, including those of poor, medium and best varieties, were steady at INR 4,400-INR 5,750 per 100 kg at Gondal in Gujarat, said Ashok Virvani, a local trader. "Due to heavy rainfall on Wednesday in Gujarat, farmers avoided bringing more oilseeds in most of the mandis," he added. Arrivals fell to 2,000 bags on Wednesday (1 bag = 45 kg) from 6,780 bags on the previous day, he said. 

The India Meteorological Department has issued a red alert in Gujarat for the second consecutive day on Wednesday because of very heavy rainfall in the state. A red alert indicates rainfall of over 204.4 mm in 24 hours. It has also predicted extremely heavy rainfall over Saurashtra and Kutch Wednesday. 

SOYBEAN prices at Indore in Madhya Pradesh were down by INR 100 to INR 3,900-INR 4,150 per 100 kg, said Shailendra Soni, a local trader. Arrivals rose by 300 bags to 2,900 bags (1 bag = 90 kg). "Sluggish demand, and higher soyoil imports are all weighing down on prices," he said. Also, there is an abundant supply in global market due to supply from the US, which is putting pressure on prices, he added. No improvement is seen as such is near-term as the government is also selling stocks in domestic markets, he said. 

End

Edited by Saji George Titus

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