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Informist, Thursday, May 29, 2025

By Anjali Lavania

MUMBAI – Mustard prices rose in Jaipur while those of soybean and groundnut fell in Indore and Gondal, respectively, traders said. Market participants say price trends of most oilseeds appear to be bearish in the long run owing to higher edible oil imports, poor demand for oilmeal, and oversupply.

Prices of MUSTARD seed in Jaipur, Rajasthan, were up INR 25 at INR 6,750-INR 6,775 per 100 kg, according to the Marudhar Trading Agency. Arrivals of the seed across the country were unchanged at 525,000 bags (1 bag = 50 kg).

Mahesh Sameriya, a trader from Rajasthan, said prices have been improving since the start of the week on improved buying by millers, but he believes further gains in the near term may be limited by poor demand for rapeseed meal. Gains could also be limited by huge arrivals of mustard seed in the domestic markets, he said.

GROUNDNUT prices for poor, medium, and best varieties were down INR 50 at INR 4,200-INR 5,550 per 100 kg at Gondal in Gujarat, according to Dilipbhai Ramani, a local trader. "Groundnut prices are under pressure due to poor export demand for Indian groundnuts in global markets because of higher prices," said Ramani. In the long term, groundnut prices may fall further due to high crop output estimations this year, he said.

SOYBEAN prices in Indore, Madhya Pradesh, were down INR 50 to INR 3,700-INR 4,100 per 100 kg, according to local trader Narendra Porwal. Arrivals were unchanged at 2,600 bags. "The government has procured a large amount of soybean, yet that has failed to support prices of the oilseed due to persistently weak soymeal demand and availability of substitutes like distillers' dried grains with solubles," Porwal said. The government recently raised the minimum support price for soybean by INR 430 to INR 5,330 per 100 kg.

In the long term, the soybean price trend appears to be bearish and the oilseed may trade in the range of INR 4,055-INR 4,400 per 100 kg, said Indrajit Paul, head of research at Agrocorp International.

End

Edited by Nishant Maher

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