Both soya oil and soyabean have been trading low in Indore mandis for the past few days on weak global cues and sluggish demand. Soya refined in local mandis today ruled at ₹605-607 for 10 kg (₹605-10 last week).
Similarly, soya solvent also traded low at ₹555-60 (₹565-70). Besides decline in buying support at higher rate, downtrend in soyabean and soyameal and large stock of imported edible oil also contributed to the downside. Amid arrival of 40,000 bags, soyabean prices in mandis across Madhya Pradesh declined to ₹3,050-3,250 a quintal (down ₹200 from last week).
Plant deliveries also declined to ₹3,200-50 (₹3,500-50). Soyameal prices on the spot were at ₹29,500-30,000 a quintal (₹31,800-32,000).