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Weak global cues and physical demand have dragged soya oil in Indore mandis with soya refined today declining to ₹664-65 for 10 kg, while soya solvent declined to ₹632-35. Compared to last week, soya oil is ruling ₹10 lower.
Even as local mandis remained closed today on account of Gandhi Jayanti, in private trading soyabean (old) ruled at ₹3,000 a quintal, while soyabean (new) ruled at ₹2,400-2,800 a quintal. New soyabean with increased moisture level is being quoted lower, said Sanjay Agrawal, a local trader.
With arrival of new crop expected to pick up in the coming days, rally in soyabean appears unlikely.
Plant deliveries of soyabean currently are being quoted at ₹2,950-3,000 a quintal. Soyameal ruled steady at ₹23,000-23,500 a quintal.
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