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Informist, Tuesday, Jun. 24, 2025

By J. Navya Sruthi

MUMBAI – Prices of all the oilseeds were down across key markets of the country on Tuesday, traders said. However, market participants expect prices of mustard to rise in the near-term due to low supply and prices of soybean and groundnut to fall on excess imports.

Prices of MUSTARD seed in Jaipur, Rajasthan, were down by INR 25-INR 50 at INR 6,850-INR 6,875 per 100 kilograms, according to Marudhar Trading Agency. The all-India arrivals of mustard were at 475,000 bags (1 bag = 50 kg), according to traders. Although prices fell Tuesday, market participants expect mustard prices to rise in the near-term due to lower production in the recent rabi season and continuous rains in key states which led to lower supply in markets.

Traders expect mustard prices to rise further in the long term, driven by the prospect of lower output. The government's third advance estimates peg mustard seed production for the crop year 2024–25 (Jul–Jun) at 12.6 million tonnes, down from 13.3 million tonnes in the previous year. Rahul Chauhan, director, IGrain, said mustard prices are likely to rise by INR 100-INR 200 per 100 kg in the near-term.

GROUNDNUT prices in Gondal, Gujarat, were down by INR 200 from Monday at INR 4,500-INR 5,500 per 100 kg, said Ashok Virvani, a trader from Gujarat. Groundnut demand remains weak due to the availability of cheaper imported palm oil, which is commonly used as a substitute for groundnut oil in cooking.

The government, on May 30, slashed the basic import duty on crude edible oils--palm, soybean, and sunflower--to 10% from 20%, effectively reducing the total import duty to 16.5% from 27.5%. With increasing imports of palm oil in domestic markets, Chauhan said groundnut prices are likely to fall by 10% from the current level.

SOYBEAN prices in Gondal were down by INR 100 at INR 3,700–INR 4,000 per 100 kg due to more supply, said trader Virvani. Soybean prices are likely to move downwards over the next three to four months, Virvani said. Chauhan expects soybean prices to fall by 10% from the current level in the near-term. 

End

With inputs from Taniva Singha Roy

Edited by Ashish Shirke

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