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Informist, Wednesday, Jul. 1, 2026

By Afra Abubacker

NEW DELHI – Soybean prices were steady in key markets of Madhya Pradesh, traders said. However, concern about below-normal rains in July are likely to support the oilseed prices in the near term. Among oilseeds, soybean and groundnut are cultivated in the kharif season, while mustard is a rabi crop.

Tuesday, the India Meteorological Department said the country was likely to have a 'below-normal' rainfall in July as well, raising concern over kharif crop acreage and yields. In June, rainfall was nearly 40% below the normal. Soybean acreage as of Thursday has fallen over 65% on year to 692,000 hectares, while groundnut area fell 42% on year to 887,000 hectares, agriculture ministry data showed. 

SOYBEAN prices in Ratlam, Madhya Pradesh, were largely steady around INR 3,225-INR 7,450 per 100 kg, said Narendra Porwal, a local trader. Arrivals were steady at 3,100 bags (1 bag = 40 kg), he said. In Kota, soybean prices were INR 5,600–INR 6,826 per 100 kg, according to Agmarknet.

In Indore, Madhya Pradesh, soybean traded at INR 6,625–INR 6,795 per 100 kg, according to Agmarknet. "Soybean prices (in Indore) have corrected around 10% from the four-year high seen in May, but the overall market remains strong...Prices are still nearly 40% higher this year because supplies remain tight," Riteshkumar Sahu, analyst at Kotak Neo, said.   

Delayed monsoon rains in key producers such as Madhya Pradesh and Maharashtra have significantly slowed sowing. "Any further delay in monsoon progress could push prices back towards INR 7,600 levels in the coming weeks, else the prices may drop towards INR 6,200 levels," he added. 

MUSTARD seed prices were steady in Jaipur at INR 7,875-INR 7,900 per 100 kg, traders at Marudhar Trading Agency said. Arrivals across the country were 400,000 bags (1 bag = 50 kg). In Kota, mustard seed prices were INR 6,941-INR 7,300, according to Agmarknet. 

GROUNDNUT prices in Ratlam were steady at INR 100 to INR 3,350-INR 8,050 per 100 kg, Porwal said. Arrivals were at 2,800 bags (1 bag = 30 kg), unchanged from the previous day, he added. 

End

Edited by Akul Nishant Akhoury

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