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Informist, Thursday, Jun. 26, 2025

By J. Navya Sruthi

MUMBAI – Prices of edible oilseeds were mixed in key markets across the country Thursday. Prices of mustard rose slightly due to low output in the recent rabi season, traders said. However, prices of groundnut remained steady from the previous day due to lack of new cues, they said.

SOYBEAN prices at Ratlam in Madhya Pradesh were steady from the previous day at INR 3,600 per 100 kilograms, local trader Narendra Porwal said. Prices of the oilseed in Rajasthan's Kota market were down by INR 50 at INR 4,250 per 100 kg, local trader Mahesh Sameriya said. Arrivals in the market were also down by 2,000 bags at 8,000 bags (1 bag = 50 kg), he said. 

Traders expect soybean prices to move downwards over the next three to four months due to increasing imports and low export demand for soymeal. Also, higher production in 2024-25 (Jul-Jun) is weighing on domestic soybean prices. According to the government's third advance estimates, soybean production is estimated at 15.2 million tonnes, higher than 13.1 million tonnes a year ago.

GROUNDNUT prices in Ratlam were steady from the previous day at INR 4,700-INR 6,000 per 100 kg, Porwal said. According to traders, groundnut prices are likely to fall in the medium term due to weak demand amid increasing 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, Rahul Chauhan, director, IGrain, said groundnut prices are likely to fall 10% from the current level. Moreover, groundnut output in 2024-25 is estimated at 11.9 million tonnes, higher than 10.2 million tonnes in the previous year, which is also weighing on prices, traders said. 

Prices of MUSTARD seed in Jaipur, Rajasthan, rose by INR 25 from the previous day to INR 6,875-INR 6,900 per 100 kg, according to Marudhar Trading Agency. The all-India arrivals of mustard were up at 450,000 bags from 385,000 bags (1 bag = 50 kg) on the previous day, according to traders. Prices rose 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 at 12.6 million tonnes, down from 13.3 million tonnes in the previous year. Chauhan said mustard prices are likely to rise by INR 100-INR 200 per 100 kg in the near term.

End

With inputs from Taniva Singha Roy

Edited by Akul Nishant Akhoury

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