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Informist, Monday, May 19, 2025

By Anjali Lavania

MUMBAI – Prices of soybean fell in Indore while those of mustard seed and groundnut rose in Jaipur and Gondal, respectively, traders said. However, market participants do not expect any major improvement in oilseed prices in the medium term because of sluggish demand and oversupply.

Prices of MUSTARD seed at Jaipur in Rajasthan rose by INR 75 to 6,525-INR 6,550 per 100 kg, according to the Marudhar Trading Agency. Arrivals of mustard seed across India rose by 15,000 bags to 465,000 bags (1 bag = 50 kg).

"This is just a temporary change and will be short-lived," Mahesh Sameriya, a trader from Rajasthan, said. He said mustard seed prices are likely to fall because the new crop, which has begun arriving in the markets, has high moisture content. "Prices have not gone beyond INR 6,550 per 100 kg for a long time," he said. Millers are also not buying in bulk and demand for Indian rapeseed meal in international markets is poor, he added. 

In April, exports of mustard meal fell to 213,023 tonnes from 230,810 tonnes a year ago, according to data from The Solvent Extractors' Association of India said. Bangladesh, South Korea, Thailand, and Vietnam are major importers of rapeseed meal.

GROUNDNUT prices, including those of poor, medium, and best varieties, were up INR 100 at INR 4,400-INR 5,750 per 100 kg at Gondal in Gujarat, said Ashok Virvani, a local trader. Arrivals rose by 1,000 bags to 11,560 bags (1 bag = 45 kg), he said. "Groundnut prices gained some support on Monday due to arrivals of quality varieties, including Nabar-66 and G20, which are usually preferred by exporters," said Virvani. However, this is a temporary change as rains may damage the groundnuts, thereby lowering their quality in the near term, he added.

SOYBEAN prices at Indore in Madhya Pradesh were down by INR 100 at INR 3,650-INR 4,050 per 100 kg, said Shailendra Soni, a local trader. Arrivals were unchanged at 2,700 bags (1 bag = 90 kg). "Selling of the oilseed by the government in domestic markets along with higher soyoil imports are continuing to put downward pressure on prices," Soni said. 

"Market prices continue to remain below the minimum support price of INR 4,892 per 100 kg due to subdued demand," according to a report by Kedia Advisory.

"India harvested the record crop of soybean in kharif season and rapeseed in rabi season, which encouraged higher crushing and increased availability of meal, however export demand is lacking due to disparity in international market," the SEA said. In the first six months of the oilseed year 2024-25 (Nov-Oct), exports of soymeal decreased to 1.35 million tonnes from 1.65 million tonnes, while those of rapeseed meal fell to 911,000 tonnes from 930,000 tonnes, it said.

End

Edited by Rajeev Pai

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