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Informist, Wednesday, May 28, 2025

By Anjali Lavania

MUMBAI – Mustard prices rose in Jaipur while those of soybean and groundnut were steady in Indore and Gondal, respectively, traders said. Market participants believe that as the domestic output is lower, the country may have to ramp up imports of palm oil, soyoil, and sunflower oil from countries such as Indonesia, Malaysia, and Argentina.

Prices of MUSTARD seed in Jaipur, Rajasthan, were up INR 50 at INR 6,725-INR 6,750 per 100 kg, according to the Marudhar Trading Agency. Arrivals of the seed across the country rose 50,000 bags to 525,000 bags (1 bag = 50 kg).

"Mustard prices are expected to improve in June ahead of festival demand," said Mahesh Sameriya, a local trader from Rajasthan. However, the improvement is at a slow pace due to continuous pressure from increasing arrivals with high-moisture content, he said. Prices in the Kota mandi in Rajasthan were steady at INR 6,300 per 100 kg with arrivals also unchanged at 17,000 bags, he added. 

GROUNDNUT prices, including of poor, medium, and best varieties, were steady at INR 4,250-INR 5,600 per 100 kg at Gondal in Gujarat, said Dilipbhai Ramani, a local trader. "Due to rains, most of the seeds are damaged and priced lower in mandis," he said. Ramani believes poor export demand and high production estimates for this year may put pressure on groundnut prices or keep them unchanged in the medium-to-long term.

SOYBEAN prices in Indore, Madhya Pradesh, were also steady at INR 3,750-INR 4,150 per 100 kg, said local trader Narendra Porwal. Arrivals were unchanged at 2,600 bags. "Soybean prices have been under pressure for a long time due to factors like high soyoil imports, less domestic production (of soyoil), and poor soymeal demand," Porwal said.

India's soybean acreage is expected to decline this year with farmers opting for more profitable crops like corn and sugarcane. Soybean prices have been consistently lower than the government's minimum support price, resulting in minimal profits, according to a report by Kedia Advisory. The shift is significant in key producing states like Madhya Pradesh and Maharashtra. Favourable rainfall is also encouraging increased sugarcane cultivation in Maharashtra, it said.

End

Edited by Nishant Maher

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