Commodities

Soya rallies in bullish cues

Indore | Updated on October 12, 2020 Published on October 12, 2020

Despite slack demand, strong global cues and futures lifted soya oil in mandis across Madhya Pradesh with soya refined in Indore today rising to ₹947-50, while soya solvent ruled at ₹895-900 for 10 kg. Soya oil plant rates were also quoted higher with soya refined Ruchi today being quoted at ₹955 for 10 kg, Shaan Agro/Gambuja/Vippy/Avi/Mahakaali/Khandwa were quoted at ₹950 each, Keshav/Kalapipal - ₹ 945 each, Bajrang ₹ 948, Neemuch (MS Solvex) ₹ 940, (Dhanuka) - ₹ 924, MS (Pachor) - ₹ 944, Amrit (Mandsaur) ₹ 949, Nimbhara ₹ 943, Kota -₹ 940-45, Itarsi ₹ 952, while soya refined Bansal was quoted at ₹ 950-52 for 10 kg, respectively.

Despite harvest going on full swing, the arrival of soyabean in mandis is far from satisfactory as decline in estimated crop output in Madhya Pradesh and continued rise in soyabean futures have prompted farmers to withhold soyabean crops with them, leading to rise in soyabean plant deliveries today to ₹4,050-4,100 a quintal. Soyabean prices in mandis across Madhya Pradesh were also quoted higher at ₹3,600-4,050 a quintal. The arrival of soyabean in the country today was recorded at 7.40 lakh bags. Madhya Pradesh led the arrival with 3.50 lakh bags, followed by Maharashtra with 1.90 lakh bags, Rajasthan - 1.30 lakh bags, while 70,000 bags of new soyabean were offloaded elsewhere in the country with mandis prices ranging between ₹3,600 and ₹ 3,900 a quintal.

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Published on October 12, 2020
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