In India soybean prices opened weak by INR 250-300 PMT across the domestic markets

In India soybean prices opened weak by INR 250-300 PMT across the domestic markets. Last Friday in the cbot the soybean recovered and traded up with soybean oil and meal. USDA announced an export sale of soybeans to unknown destinations by private exporters for 121,500 metric tons. China has no immediate demand as they are fully covered till December. US soybeans for February origin will still be the focus by Chinese buyers due to possible crop delays and they are looking for soybeans of Brazil origin for forwards months. The US soybean market was quiet as Chinese buyers were on the sidelines and waiting for clarity on the US presidential election.

The Coronavirus is starting to spread once again as there is massive panic about governments forcing more economic lockdowns. These lockdowns have raised concerns over the outlook for fuel consumption so that is the main reason funds have sold off across the board over the last couple of days as there is a lot of uncertainty.

In Brazil the country’s main soybean producing region Mato Grosso has planted 54% soybeans for the week ending 30th October2020 up nearly 25% from last week.

Today soybean prices traded weak in the domestic markets in India. Soybeans arrival are reported around 47,000-50,000 metric tons in the domestic markets. In the future exchange soybean prices traded weak with weakness in MDEX  & traded low by 1.69 % and today it closed at INR 42,160 against yesterday close of INR 42,630.

  State Plant Price (in INR-PMT)*
Madhya Pradesh 41,500-43,000
Maharashtra 41,000-43,000
Rajasthan 41,750-42,500
Rest India 42,250- 43,250
  As per moisture condition *+GST 5%

Market Prices :

The soybean meal prices opened weak by INR300-500 PMT in the domestic markets . The soybean meal prices range INR 32,300-35,500+ GST across India. Reseller are quoting soybean meal prices lower by INR 200-500 PMT. But in second half some of the processors have reduce the prices by INR 300-500 PMT. Soybean meal demand remains weak from end users as they are expecting more corrections in the meal prices in coming days.

The Sunflower meal pellet prices opened firm & the importers are quoting the prices in range INR 26,000- 27,000 +GST PMT ex Tuticorin port . Whereas resellers are quoting prices INR26,000-26,100 +GST PMT.

The rapeseed meal prices remain firm in the domestic markets.


Soybean Meal:


State Plant Price (in INR-PMT)*
Madhya Pradesh 32,300-34,200
Maharashtra 33,000-35,500
Rajasthan 33,300-34,000
Karnataka 34,000-34,700
*+GST 5% Moral condition
Soybean Meal Ex-Kandla Port
Port Meal Price PMT
Kandla-FOR(in INR/PMT) 34,700 -35,000+GST
Kandla-FAS (in USD/PMT) 480


Sunflower Meal:

Sunflower Meal Domestic Ex- Location
State Plant Price (in INR-PMT)* Min Protein
Karnataka 21,500-22,000 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 20,300-21,000
Madhya Pradesh 20,500-21,000
*+GST 5% Moral condition
Rapeseed Meal at Kandla Port Ex- Location
Port Meal Price PMT
Kandla-FOR(in INR/PMT) 20,700-20,800+GST5%
Kandla-FAS (in USD/PMT) 288