In India soybean prices are moving up from last three days taking cues International markets and the positive tone in MDEX as well as firm demand of soybean oil due to festivals season is also supporting the soybean prices. Good demand of soybean oil is observed from southern India due to higher sunflower oil prices. Yesterday in CBOT, soybean continue rallied getting support by rally in soybean oil whereas in soybean meal some profit booking was observed.The USDA announced another sale of 132,000 metric tons soybeans to unknown destinations by a private exporter. The firm soybean export demands and concerns about the South American crop will continue to provide price support to soybean. Brazil has removed import tariffs for corn and soybeans to help to fight the rising food prices and this news had provided support to soybean prices in futures.
Today soybean prices recovered by INR 500-750 PMT in the domestic markets taking cues from International markets and the support of edible oils prices. Today soybeans arrival are less as compared to yesterday and are reported around 65,000-66,000 metric tons in the domestic markets. In the future exchange soybean prices traded high by 1.14% and closed at INR 43,100 against yesterday close of INR 43,050.
| State | Plant Price (in INR-PMT)* | |
| Madhya Pradesh | 42,500-43,500 | |
| Maharashtra | 42,000-44,000 | |
| Rajasthan | 42,000-43,000 | |
| Rest India | 41,750- 43,250 | |
| As per moisture condition | *+GST 5% |
Market Prices:
The soybean meal prices recovered by INR 500-800 pmt with increase in the soybean prices in the domestic markets. The soybean meal prices range INR 33,000-35,800+ GST across India. Reseller are quoting soybean meal prices lower by INR 300-700 PMT.
The Sunflower meal pellet prices raised by importers by INR 1000 PMT & they are quoting the prices in range INR 26,000- 27,000 +GST PMT ex Tuticorin port . Whereas resellers are quoting prices INR26,000-26,200 +GST PMT.
The rapeseed meal prices also recovered by INR 400-1000 PMT in the domestic markets.
Soybean Meal:
| State | Plant Price (in INR-PMT)* |
| Madhya Pradesh | 33,000-34,800 |
| Maharashtra | 34,000-35,500 |
| Rajasthan | 34,000-34,800 |
| Karnataka | 34,700-35,800 |
| *+GST 5% | Moral condition |
| Soybean Meal Ex-Kandla Port | |
| Port | Meal Price PMT |
| Kandla-FOR(in INR/PMT) | 35,800 -36,000+GST |
| Kandla-FAS (in USD/PMT) | 498 |
Sunflower Meal:
| Sunflower Meal Domestic Ex- Location | ||
| State | Plant Price (in INR-PMT)* | Min Protein |
| Karnataka | NQ | 26% |
| Karnataka | NQ | 32% |
| *+GST 5% | Moral condition | |
| Sunflower Meal Ex- Tuticorin & Vizag Ports | ||
| Port | Meal Price PMT | Min Protein |
| Ukraine Origin -Pellets(in INR/PMT) Tuticorin | 26,000-27,000 | 35% |
| Ukraine Origin -Pellets(in INR/PMT) Vizag | NQ | 35% |
| *+GST 5% | Moral condition | |
Rapeseed Meal:
| Rapeseed Meal Domestic Ex- Location | |
| State | Plant Price (in INR-PMT)* |
| Rajasthan | 19,100-20,000 |
| Madhya Pradesh | 19,000-19,200 |
| *+GST 5% | Moral condition |
| Rapeseed Meal at Kandla Port Ex- Location | |
| Port | Meal Price PMT |
| Kandla-FOR(in INR/PMT) | 19,100-19,200+GST5% |
| Kandla-FAS (in USD/PMT) | 271 |