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Informist, Thursday, May 22, 2025

By Anjali Lavania

MUMBAI – Prices of all major oilseeds, mustard, soybean, and groundnut, fell in major markets Thursday, traders said. Market participants expect a bearish trend in soybean and groundnut prices in the long term due to sluggish demand and oversupply, they said.

Prices of MUSTARD seed at Jaipur in Rajasthan were down by INR 50 to INR 6,550-INR 6,575 per 100 kg, according to the Marudhar Trading Agency. Arrivals of mustard seed across India were up by 50,000 bags to 500,000 bags (1 bag = 50 kg).

"Increasing pressure of arrivals and sluggish demand are weighing on oilseed prices," said Mahesh Sameriya, a trader from Rajasthan. Sluggish demand for Indian rapeseed meal globally also weighed on mustard seed prices in the domestic markets.

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

However, the oilseed may find some support in mid-June due to demand ahead of the festival season, Sameriya said. Mustard prices in the Kota mandi were steady at INR 6,250 per 100 kg with arrivals at 20,000 bags, he added.

GROUNDNUT prices, including those of poor, medium, and the best varieties, were down INR 50 at INR 4,350-INR 5,700 per 100 kg at Gondal in Gujarat, said Ashok Virvani, a local trader. Arrivals fell by 3,970 bags to 5,790 bags (1 bag = 45 kg), he said. In the long term, the groundnut price trend seems to be bearish due to poor export demand and higher production in the country, Virvani said, adding that rain-damaged arrivals are also affecting prices.

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, Madhya Pradesh, were down INR 30 at INR 3,700-INR 4,100 per 100 kg, said Sandeep Sarda, a local trader. Some good quality seeds were available within the range of INR 4,130-INR 4,340 bags (1= 90 bag). Arrivals increased by 400 bags to 3,400 bags (1 bag = 90 kg). Soybean prices were down Thursday tracking oilseed prices on the Chicago Board of Trade, which affects domestic oilseeds markets directly. Other major factors weighing on soybean include high soyoil imports and sluggish export demand for soymeal both internationally and domestically, Sarda added. 

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 a year ago.

End

Edited by Nishant Maher

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