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Informist, Friday, May 23, 2025

By Anjali Lavania

MUMBAI – Mustard and soybean prices rose in Jaipur and Indore, respectively, on Friday while those of groundnut fell in Gondal, traders said. Market participants do not expect a near-term rebound in groundnut prices due to the arrival of rain-damaged seeds and weak export demand.

Prices of MUSTARD seed in Jaipur, Rajasthan, were up by INR 50 to INR 6,600-INR 6,625 per 100 kilogram, according to Marudhar Trading Agency. Arrivals of mustard seed across India remained unchanged at 500,000 bags (1 bag = 50 kg).

"There is an improvement witnessed in demand ahead of the festival season, but at a slow pace," said Mahesh Sameriya, a trader from Rajasthan. Less demand for rapeseed meal in domestic and international markets may limit gains, he added. 

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

GROUNDNUT prices, including those of poor, medium, and the best varieties, were down INR 50 at INR 4,300-INR 5,650 per 100 kg at Gondal in Gujarat, said Ashok Virvani, a local trader. Arrivals fell by 1,650 bags to 4,140 bags (1 bag = 45 kg), he said. "Currently, seeds which are damaged by rains are arriving in most of the mandis in Gujarat," he said.  Moreover, sluggish demand for Indian groundnut in global market is also weighing down on oilseed prices, he said. 

"Indian groundnut are priced around $900 per tonne while African exporters offer them at $750–$800 per tonne. This price gap has hurt Indian exports, further adding to domestic surplus," said Bhargav Vaghasiya, an exporter and trader based in Gujarat. 

SOYBEAN prices in Indore, Madhya Pradesh, rose INR 50 at INR 3,750-INR 4,150 per 100 kg, said Shailendra Soni, a local trader. Some good quality seeds were available within the range of INR 4,100-INR 4,270 per kg (1 bag = 90 kg). Arrivals decreased by 400 bags to 3,000 bags. "This is a temporary change and will be only there for a short duration. Soybean is actually a meal driven market and now substitutes of the same are available in the market which are weighing down on prices," he said. Distiller's Dried Grains with Soluble, widely known as DDGS, has jolted the Indian oilseeds market. It is by-product of the ethanol production process, specifically after the starch from grains like corn or rice is fermented and distilled to make ethanol. 

End

Edited by Subhojit Sarkar

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