Agri Business

Downtrend in soyabean

Our Correspondent Indore | Updated on May 25, 2020

Downtrend in soyabean and soya oil continued on weak physical demand, with soya refined Indore (Vippy, Ruchi and Bajrang) being quoted at ₹797 for 10 kg each, while soya refined (Avi) ruled at ₹795. Soya refined Neemuch (Dhanuka) was quoted at ₹781, (MS) at ₹783 and soya refined Mandsaur (Amrit) at ₹781, while soya refined Pachor (MS) was quoted at ₹788 for 10 kg.

Soya solvent also traded low at ₹755-57 for 10 kg. Weak demand in soya oil also dragged plant deliveries of soyabean whose Indore plant rates (Prestige & Mahakali) today were quoted at ₹3,860 a quintal each and Ruchi Indore at ₹3,870, while Kirti Indore ruled at ₹3,850 a quintal. respectively. Soyabean Neemuch plant rates: (Sawariya) ₹3,800, Vippy ₹3,775, Avi - ₹3,850. Soyabean Dhanuka Neemuch plant rate was quoted at ₹3,865. According to Sanjay Agrawal, a local soyabean trader, amidst adequate carryover stock and predictions of normal monsoon, demand in soya oil and soyabean has declined with many plants going for maintenance and overhauling of machinery before the onset of the rainy season. Soya DOC today ruled at ₹31,000-32,500 a tonne on improved buying.

Published on May 25, 2020

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