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Informist, Thursday, May 15, 2025

By Anjali Lavania

MUMBAI – Prices of mustard fell slightly in Jaipur while prices of soybean and groundnut were steady in Indore and Gondal, respectively, traders said. Market participants believe mustard prices may gain some support mid-June due to lower arrivals in mandis. Usually, arrivals are high during April and May.

Prices of MUSTARD seed at Jaipur in Rajasthan fell by INR 50 to INR 6,450-INR 6,475 per 100 kg, according to the Marudhar Trading Agency. Arrivals of mustard across India rose by 50,000 bags to 450,000 bags (1 bag = 50 kg).

"Mustard prices may not go beyond INR 6,500-INR 6,600 per 100 kg in near-term due to continous high arrivals in various mandis across India along with slow procurement by government of new seeds with high moisture," said Mahesh Sameriya, a local trader from Rajasthan.

GROUNDNUT prices, including those of poor, medium, and best varieties, ranged from INR 4,400-INR 5,750 per 100 kg at Gondal in Gujarat, steady from Wednesday, said Ashok Virvani, a local trader. Arrivals were down by 1,410 bags to 10,560 bags (1 bag = 45 kg), he said. "Due to rain, there were less arrivals on Thursday in various mandis of Gujarat including Rajkot and Saurashtra," he said.

Prices are unlikely to rise in the future due to poor demand for both, groundnut and groundnut oil, in the domestic and international markets, said Dilipbhai Ramani, another local trader from the state. Moreover, arrival of rain-damaged crop and higher expectations of output this year may weigh on prices in the long run, he said.

Groundnut production in the crop year 2024-25 (Jul-Jun) is seen at 27.63 million tonnes, up 1.76 million tonnes from 2023-24, according to estimates shared by Rahul Chauhan, director at iGrain India.

SOYBEAN prices at Indore in Madhya Pradesh were steady at INR 3,800-INR 4,200 per 100 kg, said Shailendra Soni, a local trader. Arrivals fell by 400 bags to 2,300 bags (1 bag = 90 kg). "Soybean prices are not expected to rise in near-term due to poor demand for the oilseed, oversupply in domestic markets, and sluggish exports of Indian soymeal," Soni said. Prices have been below the minimum support price of INR 4,892 since a very long time and if this price trend continues, many farmers will shift to other crops next year, he said.

End

Edited by Ashish Shirke

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