India's oilseed market sees price gains on festive demand

Indian oilseed and edible‑oil prices rose in early August as festive demand picked up and farmers held back supply to avoid selling below the minimum support price. Mustard, soybean, peanut and other oilseed contracts posted higher closing levels, with mustard oil trading around ₹8,250‑8,300 per quintal and soybean oil near ₹15,800 per quintal in Delhi. The rally came despite a broader global upturn in commodity markets and a recent increase in import duties on soybean degummed oil, which added $17 per metric ton. Market sources warned that the government must monitor retail price caps (MRP) to prevent arbitrary price hikes, especially for mustard and peanut oil, whose wholesale and retail spreads have diverged. They also urged the authorities to build buffer stocks of mustard, soybean and peanut to avoid forced sales at low prices.