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Informist, Monday, May 12, 2025

By Anjali Lavania

MUMBAI – Prices of mustard and soybean rose in key spot markets on Monday, while those of groundnut fell, traders said. Groundnut prices were down due to poor export demand and a rise in the arrival of rain-damaged seeds. 

Prices of MUSTARD seed at Jaipur in Rajasthan rose by INR 50 to INR 6,400-INR 6,425 per 100 kg, according to Marudhar Trading Agency. Arrivals of mustard across India rose by 75,000 bags to 450,000 bags (1 bag = 50 kg).

"During the start of the week, mustard prices gained some support due to improved buying," said Mahesh Sameriya, a trader from Rajasthan. However, this is unlikely to last due to the huge availability of new mustard crop with high moisture content in various domestic markets, he said. Moreover, with sluggish procurement, gains in the oilseed prices are seen at a slow pace, he added.

GROUNDNUT prices, including those of poor, medium and best varieties, were down by INR 50 to INR 4,350-INR 5,700 per 100 kg at Gondal in Gujarat, Ashok Virvani, a local trader, said. Arrivals increased to 9,750 bags on Monday (1 bag = 45 kg) from 3,720 bags on the previous day, he said. The prices fell due to the increase in the arrivals after many days and the high moisture content due to the rains, he said. 

Moreover, subdued export demand for Indian groundnuts and groundnut oil in global markets is pulling down domestic prices. "Indian groundnut costs around $900 per tonne, while African exporters offer them at $750–$800 per tonne. This leads to an increase in supply and a fall in domestic prices, which ultimately hurts the exporters," said Bhargav Vaghasiya, an exporter based in Gujarat. 

SOYBEAN prices at Indore in Madhya Pradesh rose by INR 100 to INR 3,950-INR 4,200 per 100 kg, said Vijay Parashar, a local trader. Arrivals fell by 100 bags to 3,200 bags (1 bag = 90 kg). "Due to an increase in soyoil prices on the Chicago Board of Trade on Monday, domestic prices also gained support," Parashar said. However, this is a temporary situation as there is continuous pressure of increasing arrivals due to the government selling, high imports, sluggish soymeal exports and availability of cheaper substitutes for feed in markets, Parashar said. 

End

Edited by Saji George Titus

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