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Informist, Monday, Jun. 16, 2025

By Taniva Singha Roy

MUMBAI - Prices of mustard rose in some key markets while those of groundnut showed a mixed trend Monday, traders said. Prices of soybean were steady, they said. However, oilseed prices are likely to fall due to poor demand for edible oils, they said.

Prices of MUSTARD seed at Kota in Rajasthan rose by INR 30 to INR 4,300-INR 6,400 per 100 kilograms, and arrivals were at 18,000 bags, up by 8,000 bags during the previous day, said Mahesh Sameriya, a trader from Rajasthan. Prices are likely to remain largely steady until there is demand ahead of festivals, traders said.

All-India arrivals of mustard were at 450,000 bags, said Rajesh Patel of GGN Research. According to traders, mustard prices are expected to rise in the long term due to likely lower production. The government's third advance estimates pegged mustard seed production for crop year 2024-25 (Jul-Jun) at 12.6 million tonnes, down from 13.3 million tonnes a year ago.

GROUNDNUT prices at Gondal in Gujarat fell by INR 200-INR 1,000 to INR 4,500-INR 5,300 per 100 kilograms, said Ashok Virvani, a trader from Gujarat. The overall sentiment for groundnut is bearish and prices are seen falling or remaining at the current levels in the coming days. There is lower demand for groundnut due to import of palm oil at cheaper rates. Palm oil is generally used as a substitute for groundnut oil in cooking.

Moreover, the basic customs duty cut on edible oil also weighed on market sentiment. The government had on May 30 cut the basic customs duty on major imported crude edible oils to 10% from 20%.

In Ratlam, Madhya Pradesh, groundnut prices rose by INR 100 per at INR 4,700-INR 5,900 per 100 kg and arrivals were at 1,700 bags, said Narendra Porwal, a local trader. However, prices are likely to fall tracking weak oil prices, Porwal said.

SOYBEAN prices in Gondal were steady at INR 3,800-INR 4,000 per 100 kg, said Virvani. Prices of soybean in Ratlam were also steady at INR 3,800-INR 4,250 per 100 kg and arrivals were at 3,400 bags, said Porwal. 

End

Edited by Vandana Hingorani

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