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Informist, Wednesday, May 21, 2025

By Anjali Lavania

MUMBAI – Prices of oilseeds were mixed Wednesday in key spot markets in the country, with mustard steady and soybean and groundnut down, traders said. Domestic prices of groundnut and soybean have been trading below the minimum support prices because of subdued demand and oversupply, traders said.   

Prices of MUSTARD seed at Jaipur in Rajasthan were steady at INR 6,575-INR 6,600 per 100 kilograms, according to the Marudhar Trading Agency. Arrivals of mustard seed across India were at 450,000 bags (1 bag = 50 kg), unchanged from Tuesday.

"Mustard prices have been under pressure since mid-March due to increasing arrivals," Mahesh Sameriya, a trader from Rajasthan, said. However, oilseed may get some support in mid-June due to demand ahead of the festival season, he said. In the long term, mustard prices are expected to rise due to expectations of low production, he added. 

The Solvent Extractors' Association of India sees the country's mustard production in the 2024-25 rabi season at 11.52 million tonnes, down from an all-time high of 11.58 million tonnes in the year before.

GROUNDNUT prices, including those of poor, medium, and best varieties, were down INR 50 at INR 4,400-INR 5,750 per 100 kg at Gondal in Gujarat, Ashok Virvani, a local trader, said. Arrivals fell by 2,000 bags to 9,760 bags (1 bag = 45 kg), he said. "Due to rainfall, arrivals were less on Wednesday in various mandis of Gujarat, including Rajkot and Saurashtra," he said. Most of the seeds that arrived in mandis were damaged due to rains, he added. In the long term, groundnut price trend seems to be bearish due to poor export demand and higher production, he said. 

Kharif groundnut output is seen at 10.43 million tonnes, up from 8.66 million tonnes, according to Rahul Chauhan, director of iGrain India. The minimum support price for groundnut is INR 6,783 per 100 kg.

SOYBEAN prices at Indore in Madhya Pradesh were down INR 20 to INR 3,730-INR 4,130 per 100 kg, said Shailendra Soni, a local trader. Arrivals increased by 100 bags to 3,000 bags (1 bag = 90 kg). Higher soyoil imports, sluggish demand and lower export of soymeal are restricting gains in soybean prices, he said. Soybean prices are still below the minimum support price of INR 4,892 per 100 kg and if the trend continues, farmers will shift to more profitable crops, he said. 

Crude soyoil imports rose to 2.27 million tonnes in Nov-Apr, the first six months of the edible oil year 2024-25 from 1.27 million tonnes same period last year.

End

Edited by Saji George Titus

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