In Brazil and Argentina, the two top soy producing countries of the South American continent, soybean sowing is being affected due to adverse weather and its area is lagging behind last year. Apart from this, the pace of sowing is also said to be slow in neighboring countries like Uruguay and Paraguay.
With the passing of Diwali, the arrival of soybean has started increasing on Tuesday. On the other hand, sales of oil are also decreasing due to high prices. In such a situation, the procurement of soybean from the plants has been seen weak. Due to all this, soybean prices have declined.
The price of soybean purchased from the plant was said to be weak by about Rs 25-50. soybean oil Consumer demand will no longer be seen till Lagansara. Buying at higher prices is sluggish. Due to this, the price of oil also declined. Soybean oil Indore decreased to Rs 1320-1325 per ten kg.
There remains strength in international markets due to which palm oil The rise in prices continued. Keeping in mind the rise in palm oil, soybean oil is also not likely to decline much.
International market of soybean production
- It is noteworthy that globally, Brazil ranks first and Argentina third in soybean production and export, while America ranks second.
- Soybean sowing is gradually gaining momentum in Brazil, but there is lack of rain in the central and northern states of the country, including the most important producing province – Monteboso.
- However, the situation for sowing has become favorable to some extent due to the recent rains in the southern provinces of the country – Paraná and Rio Band do Sul.
- A few days ago, heavy rains caused floods in Argentina and soybean sowing is being affected due to water logging in the fields. There is waiting for the water to dry up.
- However, farmers are not much worried about this because soybean cultivation is done in two phases and its sowing period is long (till January).
- The area there is expected to increase slightly. The area may also improve somewhat in Brazil. In India, soybean oil is mostly imported from Argentina and Brazil.
- The enthusiasm and attraction among the farmers in these two countries towards soybean cultivation remains intact but they are not getting the support of favorable weather.
- Mustard Nimari 5700-5900, Average Mustard 5500-5600 Raida 5800-6000 Soybean were sold up to Rs 4650-4700 per quintal.
- These are the rates of Indore market
- loose oil- Groundnut Oil Indore 1530-1550, Mumbai Groundnut Oil 1560 Indore Soybean Oil Refined 1320-1325 Indore Soybean Solvent 1250-1255 Indore Palm 1405 Mumbai Palm Oil 1355, Rajkot Oil 2430, Gujarat Loose 1521, Cottonseed Oil Indore Rs 1300 Per ten kilos.
- Plant soybean price- AVI Ujjain 4600 Betul Satna 4620 Betul 4575 Dhanuka Neemuch 4620 Divya-Jyoti Pachor 4520 Hariom Amrit Mandsaur 4630 KN Itarsi 4525 Bhavanshi Dewas 4620 Idea-Lakshmi Dewas 4560, Khandwa 4540 Mitta L Devas 4600 MS 4550 Neemuch Proteus 4625 Patanjali 4525 Prakash 4580 Prestige Dewas 4610 Rama Dharampuri 4525 RH Seoni 4625 Sanwariya Itarsi 4550 Mahesh Shipra 4575 Salasar Harda 4640 Surya Mandsaur 4650 Vardhaman Ambika Kalapeepal 4575 Vardhaman Ambika Javra 463 5 Vippy Dewas Rs 4600 per quintal.
- cotton cake– (60 kg recruitment) Indore 2250 Dewas 2250 Ujjain 2250 Khandwa 2225, Burhanpur 2225, Akola Rs 3600.
