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Informist, Monday, Jun. 30, 2025

By J. Navya Sruthi

MUMBAI – Prices of soybean and groundnut rose in Ratlam, Madhya Pradesh, due to low arrivals, traders said. On the other hand, prices of soybean and mustard were steady in Kota, Rajasthan, due to lack of fresh cues, traders said.

SOYBEAN prices in Ratlam were up INR 100 from the previous day at INR 4,000-INR 4,400 per 100 kilograms as arrivals were low, local trader Narendra Porwal said. Arrivals were down 100 bags from the previous day at 3,200 bags (1 bag = 100 kg), he said. Prices of the oilseed in Kota were steady at INR 4,251 per 100 kg, local trader Mahesh Sameriya said. Arrivals were also steady from the previous day at 9,000 bags (1 bag = 50 kg), he said.

Soybean prices are likely to remain range-bound in the near-term, Sameriya said. There is a slight shift in sowing from soybean to maize in the ongoing kharif season, he said. "We can see a 2-4% fall in area under soybean," Sameriya said. Most farmers are shifting to maize and rice for better returns due to demand from ethanol distilleries, traders said. As of Jun. 20, the area under soybean was 2% down at 307,000 hectares, the data from Ministry of Agriculture and Farmers Welfare showed.

GROUNDNUT prices in Ratlam rose to INR 5,200-6,000 per 100 kg from INR 4,700-INR 6,000 the previous day. This was due to low arrivals, Porwal said. Arrivals in the market fell by 100 bags to 1,600 bags, he said. According to the trader, groundnut prices are likely to fall in the medium term on weak demand due to rising availability of cheaper imported palm oil, commonly used as a substitute for groundnut oil in cooking.

On May 30, the government 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%. Moreover, groundnut output in 2024-25 is estimated at 11.9 million tonnes, higher than 10.2 million tonnes in 2023-24, which is also weighing on prices, traders said.

Prices of MUSTARD seed in Kota were unchanged from the previous day at INR 6,450 per 100 kg, Sameriya said. Arrivals of the oilseed were also unchanged from the previous day at 12,000 bags (1 bag = 50 kg), he added. Mustard prices are likely to rise by INR 500 per 100 kg during August and September due to high demand during festivals, Sameriya said. 

End

Edited by Nishant Maher

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