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Informist, Wednesday, Jun. 4, 2025

By Anjali Lavania

MUMBAI – Prices of mustard seed rose slightly Wednesday, while prices of groundnut and soybean fell from the previous day, traders said.

Prices of MUSTARD seed in Jaipur rose INR 25 at INR 6,700-INR 6,725 per 100 kg, according to Marudhar Trading Agency. Arrivals of the seed across the country were unchanged at 525,000 bags (1 bag = 50 kg).

"Mustard prices are expected to increase further in mid-June ahead of the festival demand," Mahesh Sameriya, a trader from Rajasthan, said. Prices are expected to touch INR 7,000-INR 7,500 in the long run as the oilseeds trade expects production this year to be lower, he added. According to the third advance estimate, mustard seed production is estimated at 12.6 million tonnes for the financial year 2024-25 (Jul-Jun), down from 13.3 million tonnes a year ago.

GROUNDNUT prices were down INR 100 at INR 4,200-INR 5,550 per 100 kg at Gondal in Gujarat. "Sluggish demand and rain-damaged arrivals in most spot markets in Gujarat are together weighing on groundnut prices," said Ashok Virvani, a local trader. Higher production estimates for this year are also limiting gains in oilseed prices. According to the third advance estimate, groundnut output is pegged at 11.9 million tonnes for the crop year 2024-25 (Jul-Jun), up from 10.2 million tonnes the previous year.

SOYBEAN prices in Indore, Madhya Pradesh, were down INR 50 at INR 3,650-INR 4,050 per 100 kg. Arrivals fell 400 bags to 3,000 bags. "Soybean prices have been consistently lower than the government's minimum support price of INR 4,892 per 100 kg," said Shailendra Soni, a trader from Madhya Pradesh. Market rates for soybean have trailed 10-20% below the support price since Oct. 2024, said Soni.

A rise in imports of soyoil and sluggish demand for soymeal are weighing on oilseed prices, he said. Most mandis in Madhya Pradesh are closed for Mahesh Jayanti, said Sandeep Sarda, another trader from the state.

End

Edited by Rajeev Pai

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