Both soya oil and soyabean remained sluggish on subdued buying in the domestic market. Besides, weak foreign markets also added to bearish sentiment in soya oil and seeds.

Taking cues from weak foreign markets, soya refined was quoted at Rs 626-628 for 10 kg against Rs 632-635 on Saturday in the local mandis. Similarly, soya solvent also traded lower at Rs 590-594 for 10 kg as demand remained sluggish in the domestic market. Resellers, however, offered soya refined at Rs 625 for 10 kg. Slump in foreign markets and sluggish demand also dragged down soya oil futures, with September contract of soya oil on National Board of Trade closing

marginally lower at Rs 654-605 after opening at Rs 656.80 for 10 kg in the morning. September contract for soya oil on the National Commodity and Derivatives Exchange (NCDEX) closed marginally lower at Rs 654.45 after opening at Rs 654.50. October contract for soya oil, however, fetched higher prices on the NCEDX, where it closed Rs 6.50 higher at Rs 649.50.

Subdued demand also dragged soyabean in State ex Indore mandis by Rs 10-15 at Rs 2,270-2,320 a quintal against Rs 2,280-2,340 in Indore mandis. While 25,000 bags arrived in State ex Indore and Ujjain mandis, 2,500 arrived in Indore mandis and 1,800 in Ujjain mandis. Soyabean, however, traded higher on the NCEDX on strong demand for its September and October contracts. September contract closed Rs 7 higher at Rs 2,382 while October contract was up Rs 28 at Rs 2,311.

Plant deliveries of soyabean ruled at Rs 2,380-2,400 a quintal. There was no demand at the higher price. Though demand for soya de-oiled cake has improved in the domestic market following rise in demand at poultry firms, the soya-oil market remains glum, Mr Mukesh Purohit, a soya trader told Business Line . Soya de-oiled cake improved at Rs 18,600 a quintal in the port against Rs 17,500 in the domestic market.

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