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Informist, Friday, May 16, 2025

By Anjali Lavania

MUMBAI – Prices of mustard were steady in Jaipur while those of soybean and groundnut fell in Indore and Gondal, respectively, traders said. Market participants do not see prices of most of the major oilseeds rising in the near term due to continuous arrivals, sluggish demand, and poor oilmeal exports.

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

"Continuous arrivals pressure along with sluggish demand for Indian rapeseed meal in global market are weighing down on oilseed prices," said Mahesh Sameriya, a local trader from Rajasthan. "The rapeseed meal export plummeted due to lack of demand from destinations," the Solvent Extractors' Association of India said in its monthly release.

GROUNDNUT prices, including those of poor, medium, and best varieties, were down INR 100 at INR 4,300-INR 5,650 per 100 kg at Gondal in Gujarat, said Ashok Virvani, a local trader. Arrivals were unchanged at 10,560 bags (1 bag = 45 kg), he said. "Groundnut prices are not expected to rise in the near-to-medium term due to rain-damaged arrivals and poor demand for the oilseed by millers," he added.

SOYBEAN prices at Indore in Madhya Pradesh were down by INR 50 at INR 3,750-INR 4,150 per 100 kg, said Shailendra Soni, a local trader. Arrivals increased by 400 bags to 2,700 bags (1 bag = 90 kg). "Soybean prices are under pressure due to higher soyoil imports. However, with US-China temporary trade settlement, prices on Chicago Board of Trade may gain some support, which directly impacts Indian soybean prices," he said.

The US has agreed to temporarily slash tariffs on Chinese goods from 145% to 30% for 90 days. In response, China has lowered its tariffs on American imports from 125% to just 10%. The move could ease the glut that weighed on prices across markets.

Crude soyoil imports during Nov-Apr rose to 2.27 million tonnes from 1.27 million tonnes same period last year, according to SEA data.

End

Edited by Ashish Shirke

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