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Informist, Wednesday, Jul. 2, 2025

By Taniva Singha Roy

MUMBAI - Prices of edible oil showed a mixed trend across key markets Wednesday, traders said. Mustard prices rose in Jaipur market while no price data was available from Kota as the market was shut, they said. Prices of soybean and groundnut were mixed across markets.

Prices of MUSTARD seed in Jaipur, Rajasthan, rose by INR 75 to INR 7,050-INR 7,500 per 100 kilogram, according to Marudhar trading agency. Mustard prices rose tracking global rates and lower arrivals in domestic market, said a local trader. Arrivals of the oilseed at the Jaipur market were at 200,000 bags, down from 450,000 bags the previous day.

Mustard prices were unavailable in Kota, Rajasthan, as the market remained closed due to a strike by traders protesting the Krishi Kalyan cess, a trader Mahesh Sameriya said. According to local media reports, 247 agricultural markets across Rajasthan have been shut since Tuesday and will remain closed till Friday to protest the policies of the state government. The protest follows the government's decision to impose Krishi Kalyan cess of 1% on traded agricultural products in state markets, starting Tuesday. Traders have sought reduction in the cess to 0.5% for the next three years. Until June, the government had been deferring implementation of the cess in two-month intervals.

SOYBEAN prices in Gondal, Gujarat, remained steady from the previous day at INR 3,800-INR 4,100 per 100 kg, local trader Ashok Virvani said. Arrivals were at 10,400 bags, up 3,400 bags from the previous day (1 bag = 100 kg), he said. 

On the other hand, soybean prices in Ratlam, Madhya Pradesh, rose by INR 10-INR 20 to INR 3,900-INR 4,325 per 100 kg, said Narendra Porwal, a local trader. Arrivals were at 3,200 bags, he added. Soybean prices are expected to decline as demand shifts toward more affordable palm oil, experts said. In June, India imported over 800,000 tonnes of palm oil, making it one of the most cost-effective edible oil options. Palm oil is trading at a discount of $90–$100 per tonne compared to soybean oil, media reports said.

GROUNDNUT prices in Gondal remained largely steady from the previous day at INR 4,500-INR 5,300 per 100 kg, with arrivals at 7,590 bags, up 3,060 bags from the previous day, Virvani said. Groundnut prices are also expected to decline in the medium term, as weak demand persists amid the increasing availability of cheaper imported palm oil, which is commonly used as a substitute for groundnut oil in cooking.

In Ratlam, groundnut prices fell by INR 50 to INR 4,600-INR 5,900 per 100 kg due to poor demand, said Porwal. Arrivals were at 1,500 bags, he added. Effective May 31, the basic customs duty on crude edible oils was lowered to 10% from the previous 20%. The total import duty, including the Agriculture Infrastructure and Development Cess, now stands at 16.5%, down from 27.5% earlier. However, the duty on refined edible oils remains unchanged at 35.75%, thus widening the gap from 8.25% to 19.25%. Groundnut output in the crop year 2024-25 (Jul-Jun) is estimated at 11.9 million tonnes, higher than 10.2 million tonnes in 2023-24, which is also weighing on prices, traders added.

End

Edited by Subhojit Sarkar

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