Agri Business

Arrival of new crop drags soy seeds, oil in MP

Our Correspondent Indore | Updated on September 09, 2020

Even as the Soybean Processors Association of India is yet to come with the exact estimate of damage to the soybean crops on account of heavy rains and pest infection following its second round of field survey in the soybean growing regions of Madhya Pradesh, Maharashtra and Rajasthan, the new soybean has started hitting mandis across Madhya Pradesh and its being quoted at ₹3,200-3,750 a quintal.

In Neemuch mandi, soybean (best quality) ruled at ₹3,650- 3,750, soybean (medium) - ₹3,500-3,620, while soybean (average) was quoted at ₹2,860-3,240 a quintal respectively.

On Wednesday, 5,000 bags of soybean with 18-20 per cent moisture were offloaded in Indore, Dewas, Ujjain, Jaora and Neemuch mandis, while the arrival of old soybean was pegged at 80,000-90,000 bags. With harvesting of new crops across Madhya Pradesh, the arrival of new soybean MP mandis is expected to gain momentum in the coming days, said Sanjay Agrawal, a local soybean trader. Plant deliveries of soybean were also quoted lower at ₹3,850 a quintal.

Meanwhile, amidst arrival of the new crop, weak global cues, soy oil in Madhya Pradesh mandis declined with soy refined today being quoted at ₹875-878 for 10 kg, while soy solvent ruled at ₹825-830. Among soybean plants, soy refined Vippy today was quoted at ₹873, (Keshav) - ₹871-873, soy refined (Bajrang) - ₹875, Prakash - ₹875, Ruchi - ₹878, Mahakali - ₹877, Avi - ₹876, Gambuja - ₹880, soy refined MS Pachore was quoted at ₹870, Neemuch (MS Solvex) - ₹865, soy refined (Dhanuka) was quoted at ₹861, Nimbhara - ₹870, Itarsi - ₹880, Bansal - ₹877, Kota refined - ₹870-875, while soy refined Kalapipal (Ambika) ruled at ₹875 for 10 kg respectively.

Published on September 09, 2020

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